On the contrary, some key markets in the region, such as Mexico or Brazil, remained open during a good part of the crisis, and air traffic benefited from the use of mandatory passenger testing instead of quarantines, which deterred fewer people from flying.
On the other hand, IATA foresees that in 2021, in which there is already availability of vaccines against the coronavirus (COVID-19), their distribution in the Latin American market will arrive with a certain delay with respect to developed markets, which which could lead to a slower recovery of the local airline sector.
The market with the greatest drop in demand this year was the Middle East (73%), followed by Africa (72%), Europe (70%) and North America (66%), while the smallest drop was in Asia-Pacific ( 62%).
North America will post the biggest losses this year, at $ 45.8 billion, followed by Asia-Pacific ($ 31.7 billion) and Europe ($ 26.9 billion).
For next year, IATA still predicts losses in all regional markets, especially in Europe ($ 11.9 billion), North America ($ 11 billion) and Asia-Pacific ($ 7.5 billion).