United Kingdom
United States
Asia Pacific
Airline losses since Covid almost $220 billion
Monday, 02 Dec, 2022
0
Airline losses have totalled almost $220 billion since the pandemic.
Cirium’s World Airline Group Finance Rankings show the extent of the financial troubles the industry has faced.
This is despite some airlines getting back in profit.
It cover all of 2021 and the first half of 2022.
Airline revenues were down by half in 2020, and still 40% down by the end of 2021.
“In 2020, the revenue decline translated into net airline losses of $160 billion $42 billion last year, and losses for the first half of this year of $15 billion,” Cirium CEO Jeremy Bowen said.
Cirium said 2022 revenues were up by 70% but many airlines are still well below pre-pandemic levels.
US airlines have fared the best due the fast recovery of the domestic market.
Related News Stories:
Ray Monty
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled