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COVID-19 Will Cost 132 Billion Euro to Airlines Worldwide

The losses that airlines will incur in the two-year period 2020-21 rise to 157.2 billion dollars (about 132.4 billion euros), according to estimates by IATA, the International Association of Air Transport.

The revision of the outlook for the sector, highlights that “the heavy losses of the industry will continue in 2021, although an improvement in performance can be expected” next year.

For 2020, the forecast is for a minus of 118.5 billion dollars (99.8 billion euros), compared to 84.3 billion estimated in June, while the 2021 loss will expand to 38.7 billion (32.6 billion euros), from the 15.8 billion dollars of the previous estimate./Ansa