The airline industry is gearing up for a difficult fourth quarter in 2020 as fresh outbreaks of coronavirus continue to crop up and restrictions remain in place on cross-border travel, the International Air Transport Association said in a press release Oct. 27. Now IATA expects 2020 traffic to be 66% less than 2019’s level and December 2020 traffic to be 68% down year on year. “The fourth quarter of 2020 will be extremely difficult and there is little indication the first half of 2021 will be significantly better, so long as borders remain closed and/or arrival quarantines remain in place,” Alexandre de Juniac, IATA’s director general and CEO, said. “Without additional government financial relief, the median airline has just 8.5 months of cash remaining at current burn rates. And we can’t cut costs fast […]