Passenger Airline Revenue Loss Estimate Continues to Grow
The global airline trade association, International Air Transport Association (IATA), has released its latest estimates on the impacts of the ongoing COVID-19 pandemic on the world's airlines. It now predicts that 2020 revenue losses for passenger airlines could reach $371 billion.
Loss estimates from the trade group have been growing as the pandemic has progressed. In early March, IATA initially predicted passenger airline revenue losses of $113 billion due to the pandemic. That estimate grew to $252 billion in late March, and $314 billion in mid-April as travel restrictions grew and COVID-19 outbreaks spread to areas such as Africa and Latin America.
Source Fool.com
