Aviation: Despite recovery expected in 2021, global airline industry’s losses to be higher than during the global financial crisis

The global airline industry is expected to see a net loss of $118.5 billion in 2020, with a recovery of $80 billion estimated in 20201, according to IATA’s November release. Despite the expected fall back, the industry is likely to experience a net loss of $38.7 billion next year, higher than that reported in 2008.