Business

Air industry urges rapid testing instead of quarantine

The global aviation industry called on Tuesday for the development of rapid virus tests for all passengers before departures as an alternative to quarantine measures, in a bid to get people flying again.

Business

$2.1 billion Asiana Airlines takeover collapses

A $2-billion-plus deal for a South Korean property developer to take over lossmaking Asiana Airlines collapsed Friday in the wake of the coronavirus pandemic, with state-owned banks mounting a bailout to try to save 9,000 ...

Business

Air travel not expected to recover until 2024

Global air travel is recovering more slowly than expected and it will take until 2024 to return to pre-pandemic levels, the trade association for the airline industry said Tuesday.

Business

Airlines headed for $84 bln net loss in 2020: IATA

International airlines are in line to make a combined net loss of more than $84 billion this year in the wake of the coronavirus crisis which has decimated air travel, the International Air Transport Association said Tuesday.

Business

Latin America's stricken airlines facing long haul to recovery

Latin America's beleaguered airlines will take up to three years to recover losses due to the coronavirus pandemic, and in the meantime desperately need government help, according to experts surveying the damage to the industry.

Business

Air traffic plunges 53% in March: IATA

World air traffic suffered a massive drop of more than half in March compared with the same period last year thanks to coronavirus-related travel restrictions, the airline industry's trade body said Wednesday.

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