Airlines See Covid-Related Losses Exceeding $200 Billion
- Deficit for 2020-2022 set to wipe out nine years of profit
- U.S. airlines poised to recover faster than most major markets
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Airline losses from the coronavirus pandemic are set to surpass $200 billion as travel curbs weigh on corporate and long-haul demand well into 2022, according to the industry’s main lobby.
Carriers are poised to post a collective deficit of $11.6 billion next year, the International Air Transport Association said Monday in Boston at its annual meeting. The trade body also increased its loss estimate for this year, and revised upward the shortfall for 2020.