IATA: "Industry needs additional support in the amount of 70-80 billion dollars"

Created on 02.12.2020 16:06

The global air transport industry needs additional public assistance in the amount of 70-80 billion dollars, aimed at overcoming the consequences of the crisis caused by the COVID-19 pandemic, said Alexander de Juniac, General Director of IATA, La Tribune writes.

The Head of IATA once again has encouraged to create a coordinated COVID-19 testing program to support industry before a vaccine becomes widely available. He expressed confidence that the tourist flow to destinations will be renewed immediately, as soon as conditions permit. The business travel market will be recovered more slowly, but nevertheless, videoconferencing will never be able fully to replace personal sessions and visits, so this segment will be returned over the time, the IATA Head stated.

Next year, global passenger traffic might reach approximately 2.8 billion people, a load figure of 72.7%. Based on the assumption that borders will be opened by mid-2021 (either via testing or increasing vaccine availability), total industry revenues are expected to rise up to $ 459 billion.

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