Losses in global aviation industry will reduce in 2022, says IATA chief
The Hindu
The pandemic will cost aviation USD 201 billion in losses before we return to profitability in 2023, says Willie Walsh
The global aviation industry will lose USD 201 billion between 2020 and 2022 due to the COVID-19 crisis in 2023, said Willie Walsh, Director General of global airlines body IATA.
"We are past the deepest point of the crisis. While serious issues remain, the path to recovery is coming into view," Mr. Walsh said during his speech here at the 77th annual general meeting of International Air Transport Association (IATA) on Monday, October 4, 2021.
He stated that nearly two years after the onset of the COVID-19 crisis, there is no rationale for blanket border restrictions imposed by various governments. We are seeing improvements in finances, he stated.
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