Passenger air traffic plummeted 66% year on year in 2020 and the near-term outlook is one of continuing stagnation, the International Air Transport Association said Feb. 3. Receive daily email alerts, subscriber notes & personalize your experience. Register Now December figures confirm stagnation, showing a decrease of 69.7% on year, which was broadly in line with October and November’s trends, IATA said. Recovery has been hit by a sharp spike in COVID-19 cases and new travel restrictions, the association added. “Forward bookings have been falling sharply since late December, which points to a challenging start for 2021,” IATA said. Global air traffic is declining and this is being led by a noticeable drop in Chinese domestic flights, with particular weakness still in Europe, the UK and Japan, S&P Global Platts Analytics said Feb. 3. “Chinese travel over the Lunar New Year is expected to be notably restrained, but a […]