Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, owing to the severity of the economic downturn and a slower than previously expected reopening of international routes.
The latest forecast from the International Air Transport Association (IATA) is up from the $252 billion figure given on March 24 and represents a 55% drop in 2020 passenger revenue compared with last year.
Traffic measured in revenue passenger kilometres is forecast to be 48% down this year, compared with the previously forecast 38% decline, industry body IATA said at a weekly online news conference on Tuesday.
