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Asia-Pacific responsible for near 30% of global airline losses from pandemic; IATA report
November 14th 2022
International Air Transport Association (IATA) senior vice president and deputy director-general, Conrad Clifford, said Asia-Pacific carriers represented almost a third of losses from COVID-19. Read More » Addressing attendees at the Association of Asia Pacific Airlines (AAPA) Assembly of Presidents last week, he said the region is forecast to accumulate red ink in the range of US$70 billion from 2020 to December this year. Global airline losses are calculated to hit US$200 billion. “As we have seen from the recent financial results announced by the region’s airlines, including AAPA members, the business prospects for airlines are positive, with the region largely opened to international travel,” Clifford said. “Asia-Pacific governments have a key role in accelerating the recovery of the industry. Borders have reopened and quarantine-free travel is possible, but we are not yet back to pre-COVID status.”
