Airlines to lose up to $95 billion with bookings down 80%: IATA

NEW DELHI: Global air lines could lose as muc h as $ 95 billion this year, according to a ne w anal ysis b y the International Ai r Transport Association (IATA ).

The estimates for cash burn b y a irline indu stry may rang e betw een 75 billion dollars to 95 billi on dollars fr om a pr eviously anticipated 48 billion dollars, it said.

Previous f orecasts fr om the industry body showed that airlines could tur n cash positive in the fourth quarter of this year. But renewed travel restrictions prompted by the fear of new vaccine-resistant strains of the novel coronavirus mean that airlines are likely to continue losing money throughout the rest of 2021.

"With gover nments having to tighten border restrictions, 2021 is shaping up to be a much tougher yearthan previously expected," said IATA's Director Deneral and CEO Alexandre de Juniac.