IATA expects aviation industry to remain cash negative during 2021
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New Delhi, Feb. 26 -- The International Air Transport Association (IATA) expects the aviation industry to remain cash negative throughout 2021 due to covid-19 pandemic that has hit travel demand amid restrictions in several countries to contain the virus.
Estimates for cash burn in 2021 have ballooned in the $75-$95 billion range from the previously anticipated $48 billion, the aviation industry body said in a statement.
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"It is already clear that the first half of 2021 will be worse than earlier anticipated. This is because governments have tightened travel restrictions in response to new covid-19 variants. Forward bookings for summer (July-August) are currently 78% below levels in F...
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