Dubai: Cash generation is now in sight, but it might not arrive before the end of this year, said Brian Pearce, Chief Economist of the International Air Transport Association (IATA).
“I think we do have a very difficult three to six months ahead of us,” said Pearce during a virtual event on Wednesday.
“It’s clear that all markets, particularly some emerging markets and developing economies, will take longer,” he said. “So far, we’ve not really seen very much of an upturn which again is a concern for the short-term outlook,” he added.
There is demand
Whenever there has been a resumption in travel, bookings have surged particularly for VFR (visiting friends and relatives) and leisure travel, noted the top economist. “So, there is pent up demand,” he added.