International Consolidated Airlines (IAG) Down by 2.93% Against Expectations of Flight Traffic Recovery by 2023

Moody's and British Airways expect to restore total flight traffic to previous positions only by 2023. The airline will wind down its fleet of Boeings 747-400

According to Moody's Investors Service, global demand for traveling might return to pre-coronavirus numbers by late 2023, but only if successful vaccines and prescription medicine are available.

Image source: Twitter @jonostrower

The rebound will primarily be related to airlines, airports and aircraft carriers. Manufacturers, such as Boeing Co. and Airbus SE will be the last to re-acquire its 2019 status in the global aviation market.

Image source: Twitter @jonostrower

In the weeks after the onset of the pandemic, demand dropped by more than 90%, having a devastating impact on the economy worldwide, as passenger airlines were responsible for about 3% of the gross domestic product in 2019.

The production of a vaccine will be crucial in figuring out both structural and financial recovery for the sector, while further government assistance is likely to be required to ensure the viability of airlines, Moody's said.

More recently, American Airlines continues to lay off employees despite the overall increase in the share price.

#Moodys #Airlines #Air Traffic #British Airlines

Usman Salis E-mail

Usman has been in the blockchain space for 9 years and written dozens of articles about crypto in his career. He wants to put crypto on the global map.