Domestic air traffic is down 70% worldwide and the damage done to consumer confidence will undermine a quick recovery
PARIS/DUBLIN - Faltering consumer confidence will slow the recovery of air travel once coronavirus restrictions end, the sector’s main global body warned on Tuesday, citing bleak new survey data.
“Once market travel restrictions and lockdowns are relaxed, there’s still an issue about whether there will be demand from passengers to come back and fly,” IATA Chief Economist Brian Pearce said during an online media presentation.The Geneva-based organisation expects the near-total shutdown of global aviation to cut industry revenue this year by more than half, with the $314 billion hit threatening 25 million jobs, and is backing airline demands for government support.
In Europe, where the cycle of coronavirus spread, containment and travel reopening is lagging behind Asia, major carriers have locked in fuel costs through hedging, Pearce said.
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Domestic air travel down 70%, recovery likely to be slow: IATADomestic air traffic is down 70% globally and the recovery over the coming six months is likely to be slow due to the damage coronavirus has done to economic conditions, the industry's representative body IATA said on Tuesday.
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Domestic air travel down 70%, recovery likely to be slow: IATADomestic air traffic is down 70% globally and the recovery over the coming six months is likely to be slow due to the damage coronavirus has done to economic conditions, the industry's representative body IATA said on Tuesday.
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