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Aviation Losses to Exceed $523 Billion

Two international aviation trade groups are calling on governments to end quarantines as airports and airlines are expected to lose more than $523 Billion globally this year due to the COVID-19 pandemic.  The Airports Council International (ACI) World and the International Air Transport Association (IATA) say that testing should be the means to safely re-open borders.

Data from ACI World and IATA show that airports will lose $104.5 billion and airlines will lose $419 billion in 2020.

"Safely reopening borders without quarantine by using a coordinated approach to testing would boost the entire economy and be a revenue lifeline for airlines and airports," the two aviation bodies said Tuesday.

Luis Felipe de Oliveira, director-general of ACI World, said, "ACI and IATA are aligned in calling for urgent government action to introduce widespread and coordinated testing of passengers to enable quarantine requirements to be removed.  Without this action, it is not an exaggeration that the industry is facing collapse."