The latest forecast from The International Air Transport Association (IATA), published yesterday, predicts that the recovery of the global aviation industry will not be fully realised until 2023, and airline bankruptcies can be expected.
IATA’s director-general, Alexandre de Juniac, said it will take longer than originally forecast for the aviation industry to rebound from the COVID-19 pandemic. de Juniac said domestic travel markets will open first, and there is some hope that international travel between some continents might commence before the end of 2020.
The long road to recovery will inevitably see some airlines face bankruptcy, he said.
“We are relying on the support packages and the rescue plans that have been put together by governments.
“Even in the best of circumstances this crisis will cost many jobs and rob the economy of years of aviation-stimulated growth.”