IATA publishes regional outlooks for 2021 with losses the common theme

    IATA published (21-Apr-2021) the following regional airline forecasts for 2021:

    • North America: Losses of USD5 billion, representing 2.7% of total revenues, compared to 26.8% in 2020. IATA stated North American carriers are best placed to take advantage of the rapid vaccination boost to domestic travel, as well as the strong economy driving air cargo demand;
    • Europe: Losses of USD22.2 billion, 23.9%, compared to 43%. Carriers are highly dependent on international passenger revenues, with slower vaccination in Europe restricting recovery;
    • Asia Pacific: Losses of USD10.5 billion, 8.8%, compared to 31.1%. The region will benefit from the strength of the Chinese domestic market recovery;
    • Middle East: 13.8% of revenue lost, compared to 28.9% in 2020. The region will benefit from rapid vaccination rates, but will be hampered by continued travel restrictions;
    • Latin America: 20.4%, compared to 80.1%. Latin American carriers are advantaged by almost half their RPKs being generated on domestic markets;
    • Africa: 24%, compared to 32%. Slow vaccinations rates will limit international travel, while weak economic growth will limit demand. [more – original PR]
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