The International Air Transport Association (IATA) released its financial outlook for the global air transport industry showing that airlines are expected to lose $84.3 billion in 2020 for a net profit margin of -20.1 percent. Revenues will fall 50 percent to $419 billion from $838 billion in 2019. In 2021, losses are expected to be cut to $15.8 billion as revenues rise to $598 billion. “Financially, 2020 will go down as the worst year in the history of aviation. On average, every day of this … [Read more...] about Industry losses to top $84 billion in 2020, says IATA
International Air Transport Association
Air cargo capacity crunch: Demand plummets but capacity disappears even faster
The International Air Transport Association (IATA) released data for global air freight markets in April showing that demand dropped 27.7 percent compared to the same period in 2019 - the sharpest fall ever recorded. Still, there was insufficient capacity to meet demand as a result of the loss of belly cargo operations on passenger aircraft. Global demand, measured in cargo tonne kilometers (CTKs), fell by 27.7 percent in April compared to the previous year (-29.5 percent for international … [Read more...] about Air cargo capacity crunch: Demand plummets but capacity disappears even faster
Airline debt to balloon by 28 percent as heavy new debt levels seen to weigh down airline recovery
The International Air Transport Association (IATA) released analysis showing that the airline industry’s global debt could rise to $550 billion by year-end. That’s a $120 billion increase over debt levels at the start of 2020. $67 billion of the new debt is composed of government loans ($50 billion), deferred taxes ($5 billion), and loan guarantees ($12 billion). $52 billion is from commercial sources including commercial loans ($23 billion), capital market debt ($18 billion), debt from … [Read more...] about Airline debt to balloon by 28 percent as heavy new debt levels seen to weigh down airline recovery
ACI and IATA outline roadmap for aviation industry restart
Airports Council International (ACI) World and the International Air Transport Association (IATA) have called on governments to ensure any new measures introduced for airports and airlines in the wake of COVID-19 are supported by scientific evidence and are consistent across the world. The aviation sector has been brought to a standstill and a balanced and effective restart and recovery depend on collaboration among the key participants in the global aviation ecosystem. ACI and IATA have … [Read more...] about ACI and IATA outline roadmap for aviation industry restart
ACI and IATA Outline Roadmap for Aviation Industry Restart
Airports Council International (ACI) World and the International Air Transport Association (IATA) have called on governments to ensure any new measures introduced for airports and airlines in the wake of COVID-19 are supported by scientific evidence and are consistent across the world. The aviation sector has been brought to a standstill and a balanced and effective restart and recovery depends on collaboration among the key participants in the global aviation … [Read more...] about ACI and IATA Outline Roadmap for Aviation Industry Restart
IATA Board Declares Principles for Industry Re-start
The International Air Transport Association (IATA) announced a commitment by the airline CEOs on its Board of Governors to five principles for re-connecting the world by air transport. These principles are: Aviation will always put safety and security first: Airlines commit to work with our partners in governments, institutions and across the industry to: Implement a science-based biosecurity regime that will keep our passengers and crew safe while enabling efficient … [Read more...] about IATA Board Declares Principles for Industry Re-start