The Covid crisis has actually challenged the worldwide airline company industry to fight for survival in 2020, the International Air Transportation Association (IATA) said today. It added that the market’s huge losses will continue into2021
According to the IATA, in the face of a half-trillion-dollar earnings drop (from $838 billion in 2019 to $328 billion), airlines cut expenses by $365 billion (from $795 billion in 2019 to $430 billion in 2020).
” The history books will tape 2020 as the market’s worst financial year, bar none.
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