IATA deepens projected airline revenue loss to US$314b
IATA now forecasts airlines will lose US$314b in passenger revenue this year amid the coronavirus outbreak, a deepening of $62b from its previous projection. The new forecast equates to carriers’ 2020 passenger revenue being down 55% on 2019’s figure, and reflects worsening economic forecasts and predictions that the return to air travel is likely to be slower than previously expected. The lower revenue in the new forecast is based on a projected 48% fall in traffic measured in RPKs for the full year, IATA states. “We have never seen a downturn this deep before,” says IATA DG Alexandre de Juniac. ”In our latest scenario, full-year passenger revenues plummet 55% compared to 2019, while traffic falls 48%. In other words, half our business disappears. That’s catastrophic.” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-04-15/general/iata-deepens-projected-airline-revenue-loss-to-us-314b
https://portal.staralliance.com/cms/logo.png
IATA deepens projected airline revenue loss to US$314b
IATA now forecasts airlines will lose US$314b in passenger revenue this year amid the coronavirus outbreak, a deepening of $62b from its previous projection. The new forecast equates to carriers’ 2020 passenger revenue being down 55% on 2019’s figure, and reflects worsening economic forecasts and predictions that the return to air travel is likely to be slower than previously expected. The lower revenue in the new forecast is based on a projected 48% fall in traffic measured in RPKs for the full year, IATA states. “We have never seen a downturn this deep before,” says IATA DG Alexandre de Juniac. ”In our latest scenario, full-year passenger revenues plummet 55% compared to 2019, while traffic falls 48%. In other words, half our business disappears. That’s catastrophic.” <br/>
