Already Weak, Air Travel Demand Is Fading. And Pent-Up Business Travel Demand Will Be Soft Whenever It Arrives
The global decline in air travel will be worse than previously forecast and a new report on corporations’ plans travel through 2021 shows that the recovery of business travel demand will continue be sluggish even after the anticipated approval of one or more Covid-19 vaccines in, hopefully, the first half of 2021.
The International Air Transport Association, the airline industry’s global trade group, said Tuesday that global passenger traffic this year will be down a whopping two-thirds – or 66% – from 2019. Previously IATA had forecast a traffic decline of 63%.
While the revised view is only 3 percentage points worse than IATA’s previous forecast, the