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IATA declares 2020 “a catastrophe” for airlines across the globe
February 4th 2021
The International Air Transport Association (IATA) said overnight calendar 2020 was the worst year in the history of air travel, as revenue passenger kilometres (RPK) dropped 65.9% compared with 2019. Read More » And in an ominous note for 2021, IATA said forward bookings have been falling sharply since late December. "Last year was a catastrophe. There is no other way to describe it," IATA director general and CEO, Alexander de Juneau, said in a statement.
The airline lobby group said air cargo demand, the one bright spot in the sector, measured by cargo tonne kilometres (CTK), fell 10.6% year-on-year in calendar 2020, the worst annual performance since records began in 1990. However, it said there was cause for optimism in the year ahead, noting economic conditions were picking up and global industrial production was recovering. "For many airlines, air cargo in 2020 was a vital source of revenue, despite weakened demand," de Juniac said. "But with much of the passenger fleet grounded, meeting demand without belly capacity continues to be an enormous challenge."
