Air travel will not return to normal until 2024. How much damage will the epidemic cause to the aviation industry?

Air travel won't return to normal until 2024

The International Air Transport Association said on Tuesday that due to the impact of the epidemic on the air transport industry, global passenger traffic will not return to pre-epidemic levels until 2024, a year later than previously predicted. Short-distance travel is expected to recover faster than long-distance travel. IATA chief economist Brian Pearce said air travel had not improved as business confidence in Europe, the United States and China improved. Passenger traffic in June fell 86.5% from the same period last year, and the drop in April was as high as 94.1%.

IATA chief economist Brian Pearce said air travel had not improved as business confidence in Europe, the United States and China improved. Passenger traffic in June fell 86.5% from the same period last year, and the drop in April was as high as 94.1%. Global passenger traffic is expected to fall 55% in 2020 compared to 2019, which is worse than the 46% forecast in April.

According to foreign media reports, international travel restrictions implemented to curb the new coronavirus epidemic have caused the bankruptcy of 23 airlines around the world, including Flybe Airlines in the UK, Virgin Australia Airlines, Georgia Airlines in Canada, Alitalia, South African Airways, Miami International Airlines in the United States, etc. Although air travel has resumed in some parts of the world, it is too late.

It is reported that since global air transport volume only maintains about one-third of the level before the outbreak, global losses may reach billions of dollars.