Airlines to recover after a “Longer and Deeper Crisis” in 2021

From CompanyDebt:

Here are the key facts:

  • IATA, the International Air Travel Association, has warned that 2021 will mean global losses of $47.7bn for airlines.
  • January and February figures were down 86.6 percent on 2019 levels.
  • Airline Industry Debt could rise to $550bn by end of the year.
  • The second half of the year will see improved passenger levels, as a result of vaccination progress in developed countries.
  • Domestic flights may reach 96% of pre-COVID levels by the end of the year.

Read the full article.