Impact on Passenger Traffic and Cargo Operations

% change year-on-year Air Travel Recovery Slower Than Expected IATA forecast global passenger traffic will not return to pre-COVID-19 levels until 2024 and full-year 2020 traffic to be down 66% compared to 2019. 20% 0% -20% -40% -60% -80% Global RPK growth Previous Forecast -63% Latest Forecast -66% -100% Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 BE IATA CHINA AIRLINES Source IATA Economics 10

View entire presentation