RIYADH: Total airline industry losses from 2020 to 2022 are expected to reach $201 billion despite a post-pandemic improvement, according to the International Air Transport Association (IATA).
Net losses are expected to come in at $11.6 billion in 2022 after a $51.8 billion loss in 2021, IATA said in its latest outlook for airline industry financial performance, showing improved results amid the continuing COVID-19 crisis.
Demand is expected to stand at 40 percent of 2019 levels for 2021, rising to 61 percent in 2022.
Total passenger numbers are expected to reach 2.3 billion in 2021, and will grow to 3.4 billion in 2022 — significantly below the 4.5 billion travelers of 2019.
Robust demand for air cargo is expected to continue, with 2021 demand at 7.9 percent above 2019 levels, growing to 13.2 percent above 2019 levels for 2022.
The air cargo business is performing well, and domestic travel will be near pre-crisis levels in 2022, IATA said.
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