Airlines predicted to lose $52 billion in 2021
(KYMA, KECY) - Airlines are bleeding money, and it's probably not going to stop any time soon.
The International Air Transport Association is forecasting that airlines will lose nearly $52 billion this year.
That updated outlook is more than previously forecast.
The group also expects airlines to lose $11.5 billion next year before finally returning to profitability in 2023.
Last year was also worse than originally thought.
The new report updates losses from 2020 higher to nearly $138 billion.
That happened during the same year the federal government spent $25 billion bailing out airlines impacted by the pandemic.
