Aviation companies Loss Estimated To Be $ 118.5 Billion

Aviation companies’ loss estimated to be 118.5 in 2020, $ 38.7 billion in 2021: IATA

The loss of aviation companies globally is estimated at $ 118.5 billion in 2020 and $ 38.7 billion in 2021.

A top official of the International Air Traffic Association (IATA), a global organization of aviation companies, said on Tuesday that it was worse than anticipated in June.

IATA chief economist Brian Pierce said the second half of 2020 was a disappointment.

In June, aviation companies were projected to lose $ 84.3 billion in 2020 and $ 15.1 billion in 2021.

Global air traffic has decreased drastically in 2020 due to travel restrictions imposed due to the Corona virus epidemic.

“The second half of the current year has been very disappointing,” Pierce said at a virtual press conference. Because of this, we have been forced to lower our estimates further.

The total loss to the aviation industry is estimated at $ 118.5 billion in 2020. “

Meanwhile Today, on the third trading day of the week i.e. Wednesday, the stock market opened with gains.

The Bombay Stock Exchange’s flagship index Sensex opened at a record 44825.03, up 302.01 points.

At the same time, the National Stock Exchange’s Nifty opened with a gain of 87.80 points at 13143.

The Sensex closed at a record high on Tuesday and the Nifty crossed the 13000 mark for the first time.

Due to increase in foreign investment and the rise in the global market, the stock market had seen a great boom on Tuesday and the Sensex closed at 44523.02, up 445.87 points.

The Nifty closed at the level of 13055.15 with a gain of 128.70 points.

HDFC Bank, Doc Reddy, Reliance, Grasim and Power Grid started at a rapid pace today. The shares of Nestle India, M&M, Maruti, Gail and Hindalco opened at the red mark.

All sectors opened on the green mark today in the sectoral index. These include finance services, banks, private banks, realty, IT, auto, pharma, FMCG, PSU banks, metals and media.