General

Impact of the crisis in the airline sector

Impact of the crisis in the airline sector

According to the IATA (International Air Transport Association) the airline industry seems to have overcome the worst of the economic crisis.

The General Director Giovanni Bisignani stressed that the trend towards a double-digit drop in passenger numbers is over and has declared that "the worst is over."

Although global air passenger traffic fell 3.1% in April, that mark is a considerable improvement over the previous two months.
Since last summer, the sector has been hit by several sudden changes, including especially the rapid increase in fuel prices, an international recession and the threat of swine flu.

And although the latest figures indicate that it has yet to fully come out, Bisignani feels confident enough to say that "the worst is over."
"However, we have not yet seen any signs that recovery is imminent," he warned.

As for the best-performing regions, IATA noted that airlines operating in the transatlantic market have succeeded in attracting passengers with offers on flight prices.

Source: Cheapflights News

Video: COVID-19 outbreak could cost airlines up to US$113 billion in lost revenue: IATA (September 2020).