With coronavirus cases spiking in the U.S. and Europe, the financial outlook of the world’s airlines is getting worse. The latest estimate breaks down to airlines losing $66 for every passenger carried this year. However, the trade group now sees a quicker recovery. Last year, airlines carried 4.5 billion passengers, according to the trade group. It estimates that number will plunge to 1.8 billion this year, then rise to 2.8 billion next year.

Especially for long-haul routes there will be no quick recovery, CEO Carsten Spohr said in a statement accompanying the quarterly earnings statement. Lufthansa said it carried 96% fewer passengers during the April-June quarter and experienced an 80% drop in revenue, to 1.9 billion euros from 9.6 billion euros in the same quarter a year earlier. The cargo division made a profit of 299 million euros, up from 9 million a year ago. Lufthansa has started flying short-haul vacation flights but in July its offerings reached only around 20% of last year's level. It said short and medium haul capacity would increase to 40% in the third quarter and long-haul capacity to 20%.

FRANKFURT Major airlines are urging the U.S. and the European Union to quickly restore transatlantic air travel by deploying a joint COVID-19 testing program. The CEOs of United, American Airlines, IAG and Lufthansa Group wrote Tuesday that given the unquestioned importance of transatlantic air travel to the global economy as well as to the economic recovery of our businesses, we believe it is critical to find a way to reopen air services between the U.S. and Europe.They said that a testing program for the transatlantic market could be an excellent opportunity for government and industry to work together and safely restore passenger travel between the U.S. and Europe.The letter was addressed with urgency to U.S. Vice President Mike Pence and to Ylva Johansson, the European commissioner for home affairs. The signers were Scott Kirby for United, Carsten Spohr for Lufthansa, Doug Parker for American, and Willie Walsh at IAG, which owns British Airways and Iberia.