*13:42 JST Global Aviation Industry: Facing “Life and Death Issues”, Losing Over 15 Trillion Yen in 2020-21
The global aviation industry is facing a “life and death” issue. The International Air Transport Association (IATA) announced today that its forecast for the final profit and loss of the global aviation industry in 2020-21 will be revised down from a deficit of US$100.1 billion (approximately 10442.4 billion yen) predicted in June this year to a deficit of US$157 billion. The airline industry is in “winter”, the IATA said, underscoring the industry’s worst blow since World War II.
Due to the global epidemic of the new coronavirus, governments of various countries and regions have imposed restrictions on overseas travel, and international flights have been suspended or reduced in number. In addition, the second and third waves of new crown virus infections have hit Europe, the United States, India, Brazil, etc., and it is generally believed that it will be difficult to fully resume international flights for the time being.
In addition, there are fears that some airlines could face bankruptcy in the future as governments around the world expand public spending and have limited bailout budgets for the airline industry.
In this context, IATA welcomes the launch of a digital health pass (IATA Travel Pass) that can centrally manage COVID-19 vaccination information, etc., and points out the direction for its launch in the first quarter of 2021. Passengers holding travel passes are expected to ease quarantine requirements such as self-isolation, and the number of passengers on international flights is expected to increase significantly.
Both the United States and China plan to approve the use of a new coronavirus vaccine in December this year, and are expected to start vaccinating high-priority groups such as medical staff.
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