Covid-19: Asian airlines face revenue shortfall of over $60 bn this year
Asian airlines are facing revenue shortfalls of over $60 billion this year as a result of sharp falls in demand which have already forced grounding of over half the fleet, the Association of Asia Pacific Airlines (AAPA) said on Thursday. By the same token, many of the one million workers are unable to work because of drastic reductions in operations due to Covid-19 pandemic.
Many are facing the threat of a loss of their livelihoods, the AAPA said in a statement as air travel virtually grounds to a halt as a result of travel bans, border closures, lockdowns, quarantine and isolation orders imposed by governments.
The sharp reductions in passenger services have also drastically reduced available air cargo capacity affecting critical supply chains, including getting food and medical supplies to affected communities worldwide.
