With coronavirus infections spreading to nearly 80 countries severely hurting the travel and tourism sector, global industry body International Air Transport Association (IATS) has estimated the combined revenue loss for airlines in the range of $63-113 billion.
In its latest financial impact of novel Coronavirus (COVID-19) on airline sector, IATA now sees 2020 global revenue losses for the passenger business of $63 billion considering infection is contained in countries with over 100 cases as of March 2.
This scenario considers markets with more than 100 confirmed COVID-19 cases and experiencing a sharp downturn followed by a V-shaped recovery profile.
