10
Jun
Geneva: The International Air Transport Association (IATA) has released its financial outlook for the global air transport industry showing that “airlines are expected to lose $84.3 billion in 2020 for a net profit margin of -20.1 per cent”. According to IATA, revenues will fall 50 per cent to $419 billion from $838 billion in 2019. In 2021, losses are expected to be cut to $15.8 billion as revenues rise to $598 billion.“Financially, 2020 will go down as the worst year in the history of aviation. On average, every day of this year will add $230 million to industry losses. In…