The latest aviation industry financial performance outlook of the International Air Transport Association (IATA, hereinafter referred to as "International Air Transport Association") shows that despite the ongoing COVID-19 crisis, the performance of the global aviation industry has improved:-In 2021, the industry’s net loss is expected to reach 518 Billion U.S. dollars, higher than the estimated loss in April (47.7 billion U.S. dollars); the net loss in 2022 will fall to 11.6 billion U.S. dollars. The 2020 net loss forecast has been revised to 137.7 billion U.S. dollars (previously expected loss of 126.4 billion U.S. dollars). After the above losses are added up, the global aviation industry has accumulated losses of up to US$201 billion from 2020 to 2022. -The demand in 2021 (measured in RPK) is expected to remain at 40% of the level in 2019, and it will rise to 61% in 2022. -In 2021, the total number of passenger traffic will reach 2.3 billion. It will increase to 3.4 billion passenger trips in 2022, similar to the 2014 level, but far below the 4.5 billion passenger trips in 2019. -Air cargo demand will continue to remain strong, with demand in 2021 higher than 2019 level by 7.9%, and in 2022 higher than 13.2%.
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