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Airlines face $47.7b loss in 2021, worse than earlier forecast

A Gulf Air passenger plane , Aug. 5, 2016, at the Ninoy Aquino International Airport at suburban Pasay city south of Manila, Philippines (AP Photo/Bullit Marquez)
A Gulf Air passenger plane , Aug. 5, 2016, at the Ninoy Aquino International Airport at suburban Pasay city south of Manila, Philippines (AP Photo/Bullit Marquez)

Airlines are forecast to lose $47.7 billion this year, worse than previously forecast, a global industry group said Wednesday, as the sector struggles to recover from the coronavirus pandemic.

On a brighter note, the International Air Transport Association slightly raised its forecast for global air passenger traffic, saying it would reach 43 percent of pre-pandemic levels.

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