Air transportation in Latin America is recovering

Air transportation in Latin America and the Caribbean is currently recovering at a faster pace than the global average, IATA Vice President for the Americas, Peter Cerda, said.

The International Air Transport Association (IATA) executive stressed that the American continent is reviving faster, as globally passenger volume is only at around 50 percent compared to 2019 levels, whereas it stands at 75 percent in Latin America and the Caribbean.

However, Cerda warned that the restitution of air connectivity in the region cannot be achieved in an atmosphere of high operating costs, so there is a need for competitiveness, reduction of fees, coordination of biosecurity measures, relaxation of travel requirements in several countries and stimulation of the industry.

He further said that, after the health crisis, the region won’t be able to return to the same status with the indicators that existed before and that have already affected the dynamics of the airline industry.

The executive recalled that, in 2017, airlines in Latin America and the Caribbean had a deficit of 500 million dollars, and after two years of pandemic, IATA forecasts that there will be losses of around 3.7 billion dollars this year.