Today, Monday, the International Air Transport Association (IATA) expected that the aviation sector will witness a sharp decline in losses next year, with the recovery processes of various paces gaining momentum from the emerging Corona virus crisis, but the association amended by raising its expectations for the financial outcome incurred by the sector due to the pandemic in 2020 and 2021. .
The association predicted that net losses for airlines would shrink to $11.6 billion in 2022 from $51.8 billion this year.
This is an increase in the expectations of losses for the current year, as the union estimated them in April at about 47.7 billion dollars. The union also adjusted by raising the sector’s losses for 2020 to 137.7 billion dollars from 126.4 billion dollars.
“We are past the darkest phase of the crisis… Although serious problems remain, the path to recovery is beginning to emerge,” IATA Director General Willie Walsh said at the association’s annual meeting