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Asia-Pacific carriers losses increased 57% in first three months of 2021 reports IATA
July 23rd 2021
Airlines in the Asia-Pacific slumped deeper into the red in the first quarter of calendar 2021 amid the ongoing impact of COVID-19, the International Air Transport Association (IATA) said. Read More » Based on a sample size of 26 carriers, the IATA airlines financial monitor report showed Asia-Pacific airlines lost US$4.5 billion in the three months to March 31, 2021, up 57% from US$2.9 million in losses posted for the three months to December 31, 2020. "Asia-Pacific airlines in our sample remained the weakest performers due to COVID outbreaks and muted international travel in the region," the IATA report said. Asia-Pacific airline share prices fell about 1.5% in July, compared with June, compared with share price declines of 3.2% and 7.9% for European and North American airlines, respectively. "The fall reflects investor concerns about the future of the industry's recovery from the global rise in COVID cases," the airline lobby group said.
