Fortran is, for better or worse, the only major language out there specifically designed for scientific numerical computing. It's array handling is nice, with succinct array operations on both whole arrays and on slices, comparable with matlab or numpy but super fast. The language is carefully designed to make it very difficult to accidentally write slow code -- pointers are restricted in such a way that it's immediately obvious if there might be aliasing, as the standard example -- and so the optimizer can go to town on your code. Current incarnations have things like coarray fortran, and do concurrent and forall built into the language, allowing distributed memory and shared memory parallelism, and vectorization.
The downsides of Fortran are mainly the flip side of one of the upsides mentioned; Fortran has a huge long history. Upside: tonnes of great libraries. Downsides: tonnes of historical baggage.
If you have to do a lot of number crunching, Fortran remains one of the top choices, which is why many of the most sophisticated simulation codes run at supercomputing centres around the world are written in it. But of course it would be a terrible, terrible, language to write a web browser in. To each task its tool.
