Get the app today! Download iPhone App Download Android App

SUBSCRIBE

IATA Reduces Air Traffic Outlook

Published on Sep 30 2020 12:29 PM in General Industry tagged: IATA / International Air Transport Association

IATA Reduces Air Traffic Outlook

The International Air Transport Association (IATA) has said that full-year airline passenger traffic is set to decline by 66% after previously forecasting a 63% decline.

"The improvement that we saw in the summer months has more or less stopped," IATA chief economist Brian Pearce said.

August traffic was down by 75.3% in terms that reflect passenger numbers as well as distance flown, compared with a 79.5% drop in July.

Additionally, Load factors that measure the proportion of aircraft seats filled fell 27.2 points to a record low of 58.5% in August.

"The industry is restarting but it looks as though it's still burning through cash," Pearce said.

IATA said that losses will continue to mount throughout 2020, with bookings data pointing to a weak fourth quarter.

Cargo Demand

IATA also said that Cargo demand was down 12.6% in August, which was an improvement on July's 14.4% decline.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

Subscribe
Share on Facebook Share on Twitter Share on LinkedIn Share via Email