Global Airline Industry Not Likely to Recover Until 2024

The airline industry continues to suffer amid the pandemic.

The 2020 travel season (which traditional is over after Labor Day) is almost over, but the airlines are still desperate for passengers. The latest projections show global air travel won't fully recover until 2024. That’s one year later than the International Air Transport Association original projection. Traffic is up to about 800,000 people in the U.S. a day. However, iHeart Aviation Analyst Jay Ratliff says that's down from last year's 3 million per day. He says those that are flying are primarily leisure travelers. Corporate travel is way down.

“A lot of these companies that were before very slow to embrace technology were forced to do so when this coronavirus hit. Some of them went to virtual meetings, and they found out it worked, and it worked well, and it was cheap,” Ratliff said.

On top of that, he says September is traditionally one of the slowest months for air travel.

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