The League of Airlines (IATA) fears lucrative summer business: Chief economist Brian Pearce said on Wednesday in Geneva that the slow pace of vaccination does not mean that travel restrictions will be lifted in time.
It is feared that “the important summer flight is in danger.” Therefore, airlines are likely to incur higher losses this year than Etihad forecast in December. Pearce revised his loss forecast for this year from less than $ 39 billion to $ 47 billion to $ 48 billion.
43 percent from 2019
Four months ago, the International Air Transport Association (IATA) was still hoping that flight operations this year would reach 51% of the 2019 level. Now it has lowered the forecast to 43%. It’s about passenger mileage – all the flights of all passengers together.
The main problem is travel restrictions in many countries, said Willie Walsh, president of the International Air Transport Association. But there is also a ray of hope: the passengers are first. “We have good reasons to be optimistic,” said Walsh. “We have clear indications that there will be a lot of catching up once travel restrictions are eased or lifted.”
Europe is recovering from the worst
According to IATA forecasts, regions with large markets without international borders will recover best in the second half of the year, and regions like Europe with multiple national borders are the worst, because different entry rules may apply there. While in the United States all people who want to be vaccinated are vaccinated by July, it takes longer in Europe – in Germany and France, according to studies by data company Airfinity, through October. (pbe / SDA)