Airport passenger traffic in Asia-Pacific set to plunge 24% in Q1: ACI

Airport passenger traffic in the Asia-Pacific region is expected to take a 24% hit in the first quarter from the coronavirus, leading to a $3b decline in airport revenue and placing pressure on growth projects, an industry group said Monday. Airports Council International (ACI) Asia-Pacific said the cancellation of flights had led to lower airline landing and parking charges, a decline in passenger and security charges and a drop in retail spending that was hurting airport operators. "Unlike airlines, who can choose to cancel flights or relocate their aircraft to other markets to reduce operating costs, airport operators manage immovable assets that cannot be closed down," Stefano Baronci, Director General of ACI Asia-Pacific said. "They are faced with immediate cash flow pressures with limited ability to reduce fixed costs and few resources to fund capacity expansion efforts for longer-term future growth." <br/>