IATA expects Asia-Pacific carriers to see losses diminish to US$2.4b in 2022

In a statement today, the association said the reduced losses are expected to be achieved on the back of large and largely open domestic markets, not least of which is China.  — Reuters pi
In a statement today, the association said the reduced losses are expected to be achieved on the back of large and largely open domestic markets, not least of which is China. — Reuters pi

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KUALA LUMPUR, Oct 4 — Asia-Pacific carriers are expected to see losses diminish from US$11.2 billion (RM47 billion) in 2021 to US$2.4 billion in 2022, according to the International Air Transport Association (IATA).

In a statement today, the association said the reduced losses are expected to be achieved on the back of large and largely open domestic markets, not least of which is China.

“The region’s carriers are also benefitting disproportionally from the strength of air cargo markets in which they are dominant,” said IATA.

Nevertheless, it said the region continues to suffer from some of the most stringent travel restrictions, adding that despite some alleviation in restrictions, significant improvements in international markets are not expected until later in 2022.

Meanwhile, in a separate statement, the association called for an end to inconsistent Covid-19 travel restrictions that are stalling the recovery of air transport.

It urged governments to implement simplified regimes to manage pandemic risks as borders re-open to international travel.

IATA director general Willie Walsh said travel restrictions bought governments time to respond in the early days of the pandemic.

“Nearly two years later, that rationale no longer exists. Covid-19 is present in all parts of the world.

“Travel restrictions are a complex and confusing web of rules with very little consistency among them and there is little evidence to support ongoing border restrictions and the economic havoc they create,” said Walsh. — Bernama

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