At its seventy-seventh annual general meeting this week, the global representative body for the airline industry, the International Air Transport Association (Iata), reported that its latest calculations indicated that the world’s airlines would, over the period 2020 to 2022, suffer total net losses of $201-billion. These losses would be the result of the Covid-19 pandemic and attempts by the governments of the world to contain it. However, the trend has been an improving one, even though Iata has revised its estimates of total global net losses for airlines in 2020 upwards from the previous $126.4-billion to the latest figure of $137.7-billion. Net loss estimates for 2021 have also been revised upwards, from the previous figure, released in April, of $47.7-billion, to the current $51.8-billion – either way, a significant reduction on the losses for 2020, although still severe. For next year, Iata expects net losses to again reduce significantly, to $11.6-billion.
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