Global airlines suffered throughout 2020, as reflected in IATA figures released this week—but the recovery in 2021 is going strong.bilaleldaou/Pixabay
Key Takeaways:
The COVID-19 pandemic led to an unprecedented downturn in the global air industry in 2020, with passenger numbers dropping over 60% and the industry incurring more than $126.4 billion in net losses.
International air travel was hit particularly hard, experiencing a 75.6% drop in demand, with the Middle East, Europe, and Africa seeing the most significant regional declines.
Despite the overall crisis, air freight served as a critical sector for transporting goods, and the industry demonstrated resilience with government support, now showing signs of recovery and renewed hiring.
