The International Air Transport Association (IATA) has released new analysis showing that the airline industry is expected to remain cash undesirable throughout 2021.
Prior to the latest report, the Association's report issued in November indicated that airlines would turn cash positive in the fourth quarter of 2021.
According to Tourism-Travel News 24.GR, the industry level, airlines are now not expected to be cash positive until 2022. IATA has already revealed that the first half of 2021 will be worse than earlier anticipated.
Explaining reasons for the situation, IATA said governments have tightened travel restrictions in response to new Covid-19 variants.
Forward bookings for summer (July-August) are currently 78 per cent below levels in February 2019, report has disclosed.