The International Air Transport Association (Iata), the representative body for the global air transport industry, has released its latest financial forecast for the sector. It expected the world’s airlines to sustain total losses of $84.3-billion this year. This would give a net profit margin of –20.1%. Revenues would be 50% lower than in 2019 – in monetary terms, amounting to $419-billion in comparison to 2019’s $838-billion. “Financially, 2020 will go down as the worst year in the history of aviation,” affirmed Iata director-general and CEO Alexandre de Juniac. “On average, very day of the year will add $230-million to industry losses. … It means that – based on an estimate of 2.2-billion passengers this year – airlines will lose $37.54 per passenger. That’s why government financial relief was and remains crucial as airlines burn through cash.”
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