IATA Predicts Massive $118 Billion Loss for Airlines This Year | Aviation International News

IATA Predicts Massive $118 Billion Loss for Airlines This Year

Former IAG boss Willie Walsh will succeed IATA DG Alexandre de Juniac to steer the industry through the Covid crisis with renewed focus on the environment.

By Cathy Buyck • Contributor - Europe

November 24, 2020

The world’s airlines are expected to report a record $118.5 billion net loss this year and suffer a half-trillion-dollar revenue drop from $838 billion in 2019 to $328 billion, the International Air Transport Association said on Tuesday. On a per passenger basis, airlines are projected to make a staggering $66 loss on average. The projected losses mark the end of 10 consecutive years of profitability and a major deterioration on IATA’s previous outlook, released in June, when it expected the global airline industry to close 2020 with an $84.3 billion net loss.

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