Airlines stand to lose more than $84 billion this year, driven by a 50% reduction in revenues, but without the boom in cargo business the industry’s predicament would be even worse, the International Air Transport Association (IATA) said Tuesday in an unprecedented description of the financial tsunami crashing over the industry due to the coronavirus pandemic.
Cargo typically is a small portion of the overall industry, especially for passenger-focused airlines, but not this year. Cargo revenues...
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