Challenging outlook for airlines despite vaccine progress: IATA ANI | Updated: Jan 13, 2021 11:02 IST
Geneva [Switzerland], January 13 (ANI): The International Air Transport Association (IATA) expects the industry to turn cash positive this year but not until the fourth quarter with the rollout of vaccines gradually giving governments the confidence to reopen markets. We can see light at the end of the tunnel, said Chief Economist Brian Pearce. But it is still some way away, and the situation is likely to get worse first.
While the industry saw some modest improvement in bookings after the vaccine announcement news in the fourth quarter of 2020, the trend was reversed towards the end of December and into the first few days of 2021.
The International Air Transport Association (IATA) expects the industry to turn cash positive this year but not until the fourth quarter with the rollout of vac