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June 10, 2020

Terrifying... Av Industry Expects To Lose Over $84 Billion This Year

Staggering Numbers Also Indicate That A Solid 2021 May Not Be Enough To Recover

The International Air Transport Association (IATA) has released a troublesome financial outlook for the global air transport industry. According to their numbers; they foresee the airlines losing $84.3 billion in 2020 for a net profit margin of - 20.1%. They expect revenues to fall 50% to $419 billion from $838 billion in 2019. In 2021, losses are expected to be cut to $15.8 billion as revenues rise to $598 billion.

GA Businesses Are Uniquely Positioned To Quickly/Efficiently Assist With Essential Services

The NATA notes that the DoT issued a final order on adjustments to service obligations, granting point exemptions to 15 Covered Carriers. As air carrier service at commercial airports slowly recovers, general aviation remains uniquely able to provide access and connectivity to thousands of airports around the country. The DOT issued a Show Cause Order 2020-5-5 on May 22, 2020, tentatively granting point exemptions to the 15 carriers. Interested parties were given until May 28, 2020 to file comments or objections to the Department’s tentative findings. Some of the comments noted the proposed exemptions would result in significant job losses, decreased