Asia Pacific carriers to lose $27.8 billion revenue due to coronavirus: IATA
MUMBAI: Global body International Air Transport Association (IATA) on Thursday said it assesses carriers in the Asia Pacific to incur a revenue loss of $27.8 billion, while global carriers will lose $29.3 billion in 2020 as an impact of the Novel Coronavirus outbreak.
The impact shows a potential 13% full-year loss of passenger demand for carriers in the Asia-Pacific region.
“Considering that growth for the region’s airlines was forecast to be 4.8%, the net impact will be an 8.2% full-year contraction compared to 2019 demand levels. In this scenario, that would translate into a $27.8 billion revenue loss in 2020 for carriers in the Asia-Pacific region—the bulk of which would be borne by carriers registered in China, with $12.8 billion lost in the China domestic market alone,” it said in a statement.
