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IATA: The Airline Industry Will Not Recover Until 2024

According to The International Air Transport Association (IATA), experts believe it will take until 2024 for the airline industry to return to pre-pandemic levels.

 Number of travelers in the U.S. are barely visible 

IATA chief economist Brian Pearce told The Associated Press that the organization to push back its prediction by one year due to the inability of the United States and other countries to contain the pandemic. Pearce said while the aviation industry began its rebound, an increase in travelers in the U.S. “is barely visible” and way behind confidence levels seen in Europe and Asia.

The IATA belies that weak consumer confidence, constrained travel budgets for companies and individual passengers, and more outbreaks are causing the industry to struggle. Only 62.9% of domestic flights were full and 38.9% for international travel, according to a recent study.

Moody’s Investor Services’ new report on the airline industry revealed it would continue to suffer until 2023 due to the pandemic. Delta Air Lines announced the latest plans to increase health and safety protocols. It includes a new partnership with the makers of Lysol to develop breakthrough disinfection solutions and further improve hygiene standards in air travel.

Also Read: Bermuda Launches One Year Residential Program

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