Coronavirus: Airlines set for 'worst' year on record
The International Air Transport Association, which has 290 member airlines, said revenues would drop to $419B, down 50% from 2019.
That is steeper than initially forecast and comes despite recent signs that travelers are returning to the skies.
This year will go down as the "worst" on record financially, the group said.
"There is no comparison," said Alexandre de Juniac, chief executive of the group.
The group said it expected airlines to lose $230m on average each day this year as the number of travelers falls to 2.25 billion, roughly halving from last year.
That will erase more than a decade of growth, returning the industry to 2006 levels.