Europe's airlines expected to lose US$76b in passenger revenues in 2020
Europe’s airlines are expected to lose US$76b in passenger revenues over the course of 2020 because of travel bans combating the spread of the coronavirus outbreak, IATA has warned. The figures suggest European airlines will bear a significant part of the global hit caused by the pandemic, which has resulted in an unprecedented decline in the number of passengers. IATA has already warned it expects demand for passenger flights to fall by 38%, causing global revenues to fall by $252b in 2020, almost halving the industry’s revenues compared with 2019. Rafael Schvartzman, IATA’s regional VP for Europe, said Thursday that many airlines did not have enough cash to sustain them through more than 2 months of shutdowns. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-27/general/europes-airlines-expected-to-lose-us-76b-in-passenger-revenues-in-2020
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Europe's airlines expected to lose US$76b in passenger revenues in 2020
Europe’s airlines are expected to lose US$76b in passenger revenues over the course of 2020 because of travel bans combating the spread of the coronavirus outbreak, IATA has warned. The figures suggest European airlines will bear a significant part of the global hit caused by the pandemic, which has resulted in an unprecedented decline in the number of passengers. IATA has already warned it expects demand for passenger flights to fall by 38%, causing global revenues to fall by $252b in 2020, almost halving the industry’s revenues compared with 2019. Rafael Schvartzman, IATA’s regional VP for Europe, said Thursday that many airlines did not have enough cash to sustain them through more than 2 months of shutdowns. <br/>
