Asian airlines could lose US$27.8b revenue from coronavirus: IATA
Airlines in the Asia-Pacific region stand to lose US$27.8b of revenue this year as they slash flights due to declining demand as a result of the coronavirus, according to a preliminary estimate from an industry body. The bulk of the losses will be borne by Chinese carriers, including a $12.8b hit to the Chinese domestic market alone, IATA said in a forecast released Thursday. Chinese airlines have cut 80% of their planned capacity to, from and within China this week, according to flight data firm OAG, as they grapple with a sharp fall in demand due to the virus that has killed more than 2,100 people in China. Overall, IATA expects passenger traffic in the Asia-Pacific region to fall by 8.2% this year, compared to an earlier estimate of a 4.8% rise. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-21/general/asian-airlines-could-lose-us-27-8b-revenue-from-coronavirus-iata
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Asian airlines could lose US$27.8b revenue from coronavirus: IATA
Airlines in the Asia-Pacific region stand to lose US$27.8b of revenue this year as they slash flights due to declining demand as a result of the coronavirus, according to a preliminary estimate from an industry body. The bulk of the losses will be borne by Chinese carriers, including a $12.8b hit to the Chinese domestic market alone, IATA said in a forecast released Thursday. Chinese airlines have cut 80% of their planned capacity to, from and within China this week, according to flight data firm OAG, as they grapple with a sharp fall in demand due to the virus that has killed more than 2,100 people in China. Overall, IATA expects passenger traffic in the Asia-Pacific region to fall by 8.2% this year, compared to an earlier estimate of a 4.8% rise. <br/>
