Travel Logistics Infrastructure April 28, 2022Even before COVID-19, airlines outside North America struggled with losses. Between 2012 and 2019, airlines were bleeding $17 billion in economic profit per year. In 2020, as the pandemic affected air travel demand, airlines lost $168 billion, setting the aviation subsector back roughly 16 years. North America was not spared in 2020, either, registering $63 billion in losses. We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com To read the article, see “Taking stock of the pandemic’s impact on global aviation,” March 31, 2022.