Coronavirus could impact global air transport business of upto $63 billion: IATA
The International Air Transport Association (IATA) said that the novel Coronavirus could impact global air transport business of upto $63 billion.
On February 20, IATA had analysed the revenue losses at $29.3 billion based on a scenario that would see the impact of COVID-19 largely confined to markets associated with China. On Thursday, IATA updated its analysis.
According to IATA, the financial markets have reacted strongly. Airline share prices have fallen nearly 25 per cent since the outbreak began, 21 basis points greater than the decline that occurred at a similar point during the SARS crisis of 2003.
