Airports in Asia-pacific region stare at $5.6 billion loss in first quarter due to COVID-19, says ACI

The airport industry is expected to report USD 5.6 billion loss in the first quarter following a traffic volume loss of about 1.5 billion passengers in the Asia-Pacific region due to prolonged duration of coronavirus outbreak, Airports Council International said on Friday.

“Taking into account the rapid developments, ACI estimates place the first quarter loss in Asia-Pacific in the range of USD 5.6 billion, almost double earlier estimates, a large portion of which comes from the contraction in traffic as well as non-aeronautical revenue.

“The impact on the Middle East will generate a loss of approximately USD 1 billion for the first quarter and at least double for the full year,” the global grouping said.