• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Airlines see sharply lower losses in 2022, recovery in sight

October 6, 2021 by David Barret Leave a Comment

October 6, 2021

By Rajesh Kumar Singh

BOSTON (Reuters) -Global airlines on Monday projected a sharp reduction in industry losses next year as a multi-speed recovery from the coronavirus crisis gets under way, but revised up the financial toll inflicted by the pandemic in 2020 and 2021.

The International Air Transport Association, the industry’s main trade body, predicted that net losses at airlines would narrow to $11.6 billion in 2022 from $51.8 billion this year.

The losses for 2021 were revised up from $47.7 billion estimated in April. IATA also revised up losses for 2020 to $137.7 billion from $126.4 billion estimated earlier.

While airlines across all regions are expected to perform better, those in North America are forecast to return to profit next year.

“We are past the deepest point of the crisis,” IATA Director General Willie Walsh told the group’s annual meeting. “While serious issues remain, the path to recovery is coming into view.”

Yet, IATA urged governments to keep wage support measures and slot wavers in place until international traffic recovers.

It expects international travel demand to double next year and reach 44% of the 2019 levels. However, the vaccination rate as well as the lifting of government-imposed border restrictions will determine the pace of recovery.

“People … are being held back from international travel by restrictions, uncertainty and complexity,” said Walsh.

As governments are viewing inoculations as a way out of the health crisis, Walsh said vaccines need to be made available to anybody who wants them.

Domestic travel demand is estimated to reach 93% of the pre-pandemic level in 2022 – an improvement of 20 percentage points from this year.

Total passenger numbers are expected to increase to 3.4 billion next year from 2.3 billion in 2021, IATA estimates, but will be below 4.5 billion in 2019.

Passenger revenue in 2022 is expected to jump about 67% year-on-year to $378 billion. Air cargo is forecast to remain a bright spot, with demand seen rising 13.2% above the 2019 levels, IATA said.

(Reporting by Rajesh Kumar Singh, Editing by Tim Hepher, Chizu Nomiyama and Nick Zieminski)

Source Link Airlines see sharply lower losses in 2022, recovery in sight

David Barret
David Barret

Related posts:

  1. Printify bags $45M, led by Index, to ride the custom printing boom
  2. Cathay Pacific to close London pilot base, review U.S. bases
  3. Latin America’s second wave of digital transformation
  4. Recruiting operations platform ModernLoop lands $3.3M to create better technical hiring experiences

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Have You Seen This Snake? Florida Wants Your Help Finding Rare Species Seen Once In 50 Years
  • Plague Confirmed In Lake Tahoe Area For First Time In 5 Years, California Officials Say
  • Supergiant Star Spotted Blowing Milky Way’s Largest Bubble Of Its Kind, Surprising Astronomers
  • Game Theory Promised To Explain Human Decisions. Did It?
  • Genes, Hormones, And Hairstyling – Here Are Some Causes Of Hair Loss You Might Not Have Heard Of
  • Answer To 30-Year-Old Mystery Code Embedded In The Kryptos CIA Sculpture To Be Sold At Auction
  • Merry Mice: Human Brain Cells Transplanted Into Mice Reduce Anxiety And Depression
  • Asteroid-Bound NASA Mission Snaps Earth-Moon Portrait From 290 Million Kilometers Away
  • Forget State Mammals – Some States Have Official Dinosaurs, And They’re Awesome
  • Female Jumping Spiders Of Two Species Prefer The Sexy Red Males Of One, Leading To Hybridization
  • Why Is It So Difficult To Find New Moons In The Solar System?
  • New “Oxygen-Breathing” Crystal Could Recharge Fuel Cells And More
  • Some Gut Bacteria Cause Insomnia While Others Protect Against It, 400,000-Person Study Argues
  • Neanderthals And Homo Sapiens Got It On 100,000 Years Earlier Than We Thought
  • “Womb Of The Universe”: Native American Tribal Elders Help Archaeologists Decipher Ancient Rock Art In Missouri Cave
  • 16,000-Year-Old Paintings Suggest Prehistoric Humans Risked Their Lives To Enter “Shaman Training Cave”
  • Final Gasps Of A Dying Star Seen Through A Record-Breaking 130 Years Of Data
  • COVID-19 “Vaccine Alternative” Injection Could Be On Fast-Track To Approval From FDA
  • New Jersey Officials Investigate Possible First Locally Acquired Malaria Case Since 1991
  • First-of-Its-Kind Bright Orange Nurse Shark Recorded Off Costa Rica Makes History
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version