No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeNewsCosta RicaGlobal air traffic won't return to pre-crisis level before 2024: IATA

Global air traffic won’t return to pre-crisis level before 2024: IATA

Global air traffic will not return to levels seen before the coronavirus pandemic until at least 2024, the International Air Transport Association said Tuesday.

Uncertainty about the timing of border reopenings is the main factor, IATA’s chief economist, Brian Pearce, told a news conference.

“We now are expecting 2019 levels not to be reached until 2024, which is a year later that what we had previously expected,” he said.

The outlook depends on how countries manage “to control the virus,” he said, and many nations are either struggling to manage the outbreak or experiencing new ones.

“There is little sign of virus containment in many important emerging economies, which in combination with the US, represent around 40% of global air travel markets,” an IATA press release reads.

New British restrictions on travel with Spain have also “created a lot of uncertainty,” Pearce said.

“What we haven’t seen is a wide spread of reopening, particularly for long haul, particularly for inter-Atlantic travel,” he said.

Any recovery in the second half of the year would be “slower than we hoped” after a weaker-than-forecast rebound in May and June.

Because of rising COVID numbers in some countries, the reopening of international borders would take longer than previously forecast, he said.

“While pent-up demand exists for visiting friends and relatives and leisure travel, consumer confidence is weak in the face of concerns over job security and rising unemployment, as well as risks of catching COVID-19,” IATA says.

For 2020 as a whole, IATA now expects a 63-percent drop in air traffic, worse than its previous forecast of 55 percent, Pearce said.

IATA, which groups 290 airlines, projects their income to be amputated by half this year compared to 2019.

Trending Now

Costa Rica Proposes Date for Chaves Immunity Review

Costa Rica's lawmakers took a step forward today in addressing the latest push to strip President Rodrigo Chaves of his legal protections. The Legislative...

Costa Rica Nominates Rebeca Grynspan for UN Secretary-General Role

Costa Rica has put forward Rebeca Grynspan as its candidate for United Nations secretary-general, a move that highlights the nation's push for stronger Latin...

Starbucks Honors Costa Rica’s Coffee Roots in October Festivities

Coffee runs deep in our veins, a tradition that started in the 1700s and shapes our country's economy and culture today. This October, Starbucks...

U.S. Labeled Terrorists Escape Guatemalan Jail Amid Homicide Surge

Guatemala City – Authorities in Guatemala confirmed on Sunday that 20 high-ranking members of the Barrio 18 gang broke out of the Fraijanes II...

Costa Rica’s Air Travel is Evolving with Route Shifts

Airlines are reshaping their paths to Costa Rica, with some Latin American carriers pulling back while others from Canada, Mexico, and Europe step up...

Costa Rica Weather Alert: Heavy Rain, Flooding, and Landslides

The National Meteorological Institute (IMN) issued a warning on Thursday about persistent heavy rains and thunderstorms affecting much of Costa Rica.These conditions are the...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica