The world's airlines say they won't recover until 2024, reflecting a new wave of pessimism as the pandemic rages on (AAL, UAL, DAL, LUV)

Reuters

• The International Air Transport Association, which represents most of the world's major airlines, said it does not expect the airline industry to recover from the coronavirus pandemic until 2024.
• The timeline, along with recent comments from airline executives, reflects a new level of public pessimism about when business will return to normal.
• Industry analysts offered that timeline as early as April, when airlines were painting a rosier picture. Here's what led the world's largest airline trade group to agree.
• Visit Business Insider's homepage for more stories.

The International Air Transport Association (IATA), a global trade group representing most of the world's major airlines and cargo carriers, said earlier this week that it does not expect the air travel industry to recover from the hit dealt to it by the coronavirus pandemic before 2024.

That timeline, which defines "recovery" as a return to 2019 levels of traffic and revenue, is the most dire yet offered by the group, which had previously forecast a bounce back by 2023.

See the rest of the story at Business Insider

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