NEW DELHI: Airline revenues globally in 2020 is set to decline by 44% in revenues over 2019, as airlines ground flights due to poor passenger demand and countries closing borders to control the spread of Coronavirus, the International Air Transport Association (IATA)
“Revenue loss of $250 bn in 2020 over 2019… which is a 44% decline over 2019… Before any recovery takes place, airlines may run out of cash,” said Brian Pearce, chief economist at IATA.
Earlier, in February, IATA had estimated that global airlines would lose about $113 bn in revenues due to the Coronavirus pandemic.
