Airlines, allied sectors likely see revenues losses of over Rs 1100 core: IATA analysis

Indian airlines and allied sectors could be staring at revenue losses to the tune of Rs 1122.1 crore as there is a degrowth of 47 per cent change in passenger demand on a year-on-year (YoY). On Friday, the International Air Transport Association (IATA) released an updated analysis showing that the Covid-19 crisis. The apex body also stated that this loss could cost jobs of over 29.32 lakh people.

The latest estimates from the IATA also indicated a worsening in the Asia Pacific region. Airlines in Asia Pacific will see the largest revenue drop of US$113 billion in 2020 compared to 2019 (-US$88 billion in 24 March estimate), and a 50 per cent fall in passenger demand in 2020 compared to 2019 (-37% in 24 March estimate).