Money Buzz! Europa

Tag: IATA

  • International Air Carriers Association to launch a travel permit in March

    International Air Carriers Association to launch a travel permit in March

    International Air Carriers Association (IATA) announces the launch of a travel permit in late March 2021.

    A digital system for test results and vaccination certificates will be in place to help international travels, Reuters reports.

    It is essential that governments start issuing digital vaccination certificates to citizens, which will serve as the basis for the travel permit, IATA said.

    The IATA travel permit will put test results for COVID-19 and vaccination certificates in a digital format, which will speed up the check-in process.

    This summer will be very important for many airlines which are trying to survive the restrictions imposed to stop the coronavirus pandemic.

    IATA represents approximately 290 airlines worldwide, equivalent to 82% of global air traffic.

  • Shanghai overtaken London and is the world’s most connected city

    Shanghai overtaken London and is the world’s most connected city

    Shanghai has overtaken London, becoming the world’s most connected city in the air transport field, after the coronavirus pandemic (COVID-19) significantly affected international travel.

    London saw a 67% drop in air transport connectivity, while Chinese cities expanded their connectivity.

    Thus, in the ranking of the most connected cities in the world, the first four places are occupied by Shanghai, Beijing, Guangzhou and Chengdu in China, according to IATA.

    Major air hubs, including London, New York and Tokyo, have been hit hard by reduced travel to and from their cities due to pandemic flight restrictions.

    IATA says that ”the pandemic has canceled a century of progress” in the field of connectivity between cities.

    International Air Transport Association estimates that 46 million jobs supported by air transport are in danger.

    The number of passengers carried by airlines will decrease to 1.8 billion this year, from 4.5 billion in 2019, and will partially recover next year to 2.8 billion.

    The turnover of the airlines will decrease by over 60%, in 2020, compared to 2019, up to 328 billion dollars.

  • Global airlines lose $418 million a day

    Global airlines lose $418 million a day

    Global airlines are losing $418 million a day, the International Air Transport Association (IATA) said on Tuesday, urging governments to provide additional aid, Reuters reports.

    IATA expects the airlines to report losses of up to $77 billion in the second half of 2020, as the coronavirus pandemic (COVID-19) restrictions continue to affect global travels.

    Since the pandemic broke out, governments have provided $160 billion to airlines through cash injections, secured loans, wage subsidies and tax cuts.

    Without additional government assistance, 4.8 million jobs are at risk of being lost in the aviation industry, IATA warned.

    ”Financially, 2020 will be the worst year in aviation history” Alexandre de Juniac, IATA’s DG & CEO said recently. ”By comparison, airlines around the world lost $31 billion in the global financial crisis of 2008 and 2009. There is no benchmark for the scale of this crisis” he added.