Airlines See Covid Setbacks Driving Them to $48 Billion Loss
- Industry group IATA raises estimate for annual deficit by 26%
- Summer at risk as vaccinated countries keep borders tight
Travelers in Terminal 3 at Orly Airport in Paris on April 9.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
The airline industry’s chief lobby group widened its estimate for losses this year by about a quarter, saying new Covid-19 flare-ups and mutations have pushed back the timeline for a restart of global air travel.
Carriers will lose about $48 billion in 2021, the International Air Transport Association said Wednesday in an online presentation. It had earlier forecast a $38 billion deficit.