The International Air Transport Association (Iata) announced on Monday that airlines are expected to suffer a cumulative global loss of $ 51.8 billion this year due to Covid-19, and remain in the red in 2022 with a loss however reduced to 11.6 billion.
“To survive, companies have dramatically reduced costs and adapted their business to all available opportunities,” such as freight development, the demand for which has exploded, said Iata Managing Director Willie Walsh.
Despite the “enormous magnitude” of the health situation in the aviation sector, which will result in cumulative losses of more than 200 billion dollars between 2020 and 2022, “we have largely passed the lowest point of the crisis”, said Iata CEO Willie Walsh.
The Iata also revised upwards the loss suffered by the companies in 2020, to 137.7 billion against 126.4 previously mentioned.
According to Iata, the situation nevertheless remains very contrasted according to the major areas of activity: American companies, which benefit from a solid domestic market, will be “the only ones in positive financial territory in 2022 with an expected profit of 9 , $ 9 billion ”.
For their part, European companies, more exposed to long-haul networks still paralyzed by border closures and restrictions, will remain clearly in deficit in 2022 with an expected loss of $ 9.2 billion, however halved compared to 2021. (20.9 billion).
In fact, domestic markets as a whole are expected to reach in 2021 some 73% of demand in 2019, the last full year before the crisis, and 93% in 2022.
In contrast, international air travel will remain depressed, at 22% of 2019 levels in 2021, and 44% in 2022, according to Iata.