Brazil’s Airlines Expected to Lose US$10.8 Billion in 2020 With Pandemic, Says IATA

The sector is expected to close 2020 with a 57 percent drop in revenue compared to 2019, according to the International Air Transport Association.

RIO DE JANEIRO, BRAZIL - The International Air Transport Association (IATA) estimates that Brazil's airlines will lose US$10.8 billion (R$54.2 billion) in revenue in 2020 as a result of the pandemic.

The loss will translate into a 57 percent drop in revenue in 2020 compared to last year. The figures were released by the association on Thursday morning, July 30th, during an online press conference with journalists from the region.

At the end of June, the association had projected a US$10.2 billion loss in the region for the year, down 53 percent from 2019 . . .

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