Global aviation shutdown to cut industry revenue by more than half: IATA

Global aviation shutdown to cut industry revenue by more than half: IATA

The International Air Transport Association (IATA) said Tuesday that the near-total shutdown of global aviation is expected to cut industry revenue this year by more than half, to about $314 billion, and threatens 25 million jobs. It predicted that faltering consumer confidence will slow the recovery of air travel once restrictions end.

KCooper
KCooper
Arsenal
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This story provides some perspective on why we shouldn't expect the economy to just bounce right back to where it was before COVID-19 came along. You don't expect a person who was brought back from a code blue situation to just hop off their hospital bed that evening and run a marathon the next morning because they were fit enough to run one before they suddenly crashed. Our economy was running a mile a minute before COVID-19, but the crash is hard and the recovery could be very long indeed.

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