IATA, the global air travel body which has most airlines as members, stated in a call with journalists that they foresee the recovery of aviation by a year, given how it has been not able to jumpstart due to the coronavirus after so many months.
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IATA, the industry body of airlines has predicted that aviation will see sharp losses in the days ahead. For 2020, that would mean about USD 84 billion of losses at an aggregate level, and for 2021, about $15 billion in losses, if a second wave of the Virus does not come through.
At a weekly press conference about the CoVid-19 impact on aviation, IATA predicts that there will be a USD 314 billion dollar drop of revenue from passenger traffic in 2020, compared to 2019. This is a much higher number as compared to their original prediction made three weeks ago.
IATA predicts 25 million jobs related to aviation are at risk due to the CoVid-19 crisis. These include 11.2 million jobs in Asia Pacific region itself. It seems it will be a long winter ahead for aviation.
The global aviation industry is not growing very profitably, apart from North America. But yet, coming 2020, things might get better. Find out how.
Kingfisher Airlines does it again. Its almost like they are all listening to Britney Spears’ Oops I did it again. Ok, bad one! IATA has, for the second time in two months, suspended Kingfisher Airlines from their membership. This means all IATA affiliated travel agents cannot sell Kingfisher Airline tickets anymore. The airline promised to issue a statement shortly. Here is the Reuters report which talks about this. The last time around, Kingfisher Airlines took a long while to get reinstated into IATA. They blamed their problems on financial systems not working properly hence payments not reaching the IATA. Some member airlines had stopped honor tickets issued on Kingfisher Airlines stock. So, if you are booked by KFA on any other carrier,…