Airlines lost more than $200 billion over the course of those two years. The situation was significantly worse in several countries. Other airlines moved to cargo to take advantage of the pandemic’s considerable increase in online purchasing. The Covid-19 pandemic wreaked havoc on the aviation sector, with passenger counts plummeting by 60% in 2020 and 50% in 2021 as a result of the outbreak. The IATA had to shift their AGM from Shanghai to Qatar since China is still coping with the outbreak. The worldwide organization’s 290 members are responsible for 83 percent of all aviation travel.

While some businesses in the industry were forced to close as a result of the outbreak, others, many of which were backed by governments, thrived. The problems are related to the coronavirus outbreak, which resulted in the loss of tens of thousands of employment at airports and airlines. Now that they’re attempting to rehire individuals, things should be better. Passenger numbers are expected to rise to pre-pandemic levels by 2022, thanks to large pent-up demand, the removal of travel restrictions in most markets, low unemployment in most nations, and better personal savings.

Despite the risks, the International Air Transport Association believes that global airline passenger counts will have recovered to 83 percent of pre-pandemic levels by 2023, and that the aviation industry will be profitable once more. Despite the economic downturn, over 1,200 planes are expected to be delivered this year, with freight volumes expected to hit a new high of over 70 million tonnes. Due to a paucity of staff at airports and recent protests for higher pay, travelers have been impacted by cancellations and delays.

Airlines are unyielding in their pursuit of their objectives. Despite the increasing economic uncertainty, more people are traveling, and goods are flowing smoothly. The airline industry’s profitability “appears within grasp” next year, according to the International Air Transport Association (IATA), with North American airlines expected to earn US$8.8 billion in 2022. Losses will drop to US$9.7 billion in 2022, down from US$137.7 billion in 2020 and US$42.1 billion in 2021, according to an updated industry projection research presented at the IATA’s annual general meeting in Doha.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments