Challenging outlook for airlines despite vaccine progress: IATA ANI | Updated: Jan 13, 2021 11:02 IST
Geneva [Switzerland], January 13 (ANI): The International Air Transport Association (IATA) expects the industry to turn cash positive this year but not until the fourth quarter with the rollout of vaccines gradually giving governments the confidence to reopen markets. We can see light at the end of the tunnel, said Chief Economist Brian Pearce. But it is still some way away, and the situation is likely to get worse first.
While the industry saw some modest improvement in bookings after the vaccine announcement news in the fourth quarter of 2020, the trend was reversed towards the end of December and into the first few days of 2021.
Airline bookings drop as Iata warns of bleak prospects
(Reuters file photo)
Iata warning comes as repeated calls for a Covid-19 testing regime to replace quarantine requirements have gone unanswered.
Forward airline bookings recorded a sharp drift-off, signalling that the immediate outlook for the airline industry looks challenging following a warning by a global airlines’ body of bleak prospects.
The International Air Transport Association’s (Iata) warning came as its repeated calls for a Covid-19 testing regime to replace quarantine requirements have gone unanswered by governments.
Alexandre de Juniac, Iata director-general, described near-term prospects as “bleak” while his chief economist Brian Pearce warned of more airline bankruptcies during the first half of the year.
Ms Hamdi is an American-trained engineer, inventor and Silicon Valley entrepreneur, according to her LinkedIn page.
She holds a Master of Science degree in Capital Project Management from The University of Texas at Austin, a Master of Science qualification in Engineering from Ecole Centrale de Lille, and a graduate degree in Alternative Dispute Resolution for construction disputes from Texas School of Law. She is also a fellow of the Construction Law section of the State Bar of Texas.
State-owned Tunisair has been losing money every year since Tunisia’s 2011 revolution, prompting parliament to call for restructuring of the airline.
The carrier s revenue fell by about 67 per cent or $330 million year-on-year in the first nine months of 2020 due to the coronavirus pandemic, Reuters reported, citing official figures.