New Delhi: The International Air Transport Association (IATA) expects the aviation industry to remain cash negative throughout 2021 due to covid-19 pandemic that has hit travel demand amid restrictions in several countries to contain the virus.
Estimates for cash burn in 2021 have ballooned in the $75-$95 billion range from the previously anticipated $48 billion, the aviation industry body said in a statement.
Also Read | The limits to India’s privatization push
“It is already clear that the first half of 2021 will be worse than earlier anticipated. This is because governments have tightened travel restrictions in response to new covid-19 variants. Forward bookings for summer (July-August) are currently 78%…