Airlines Bleed Cash as Jets Half Empty, Long-Haul Still Grounded
- July passenger traffic reached just 20% of 2019’s levels
- Signs of domestic rebound fade outside China, IATA says
Photographer: Luke MacGregor/Bloomberg
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Airlines seeking to build up flights after idling their fleets at the height of the coronavirus outbreak are bleeding more cash as jets fly half empty and the most lucrative inter-continental services remain grounded.
Passenger traffic was down almost 80% in July compared with a year earlier, the International Air Transport Association reported Tuesday, saying the slump is steeper than expected at a time when carriers are rushing back flights.