IATA: Restart in air traffic 'disappointingly weak', in contrast to other industry sectors

IATA chief economist Brian Pearce, speaking at the 2020 IATA AGM, stated (24-Nov-2020) a restart in air traffic has been "disappointingly weak" so far in 2020. "We saw some recovery in air travel in late summer, but as we move into 4Q2020 that is stalling". Mr Pearce said this is in contrast to the economy outside of travel and tourism, noting that business confidence in services and manufacturing sectors has "rebounded really sharply" and is "still very high, above pre-crisis levels". Mr Pearce also noted that this confidence has driven a "much stronger air cargo business" for airlines, with cargo volumes down only 8% year-on-year up to Sep-2020.