PARIS, Feb 21 — Airlines operating in the Asia-Pacific region stand to lose a combined US$27.8 billion (RM116.5 billion) of revenue this year in the ongoing coronavirus crisis, the International Air Transport Association (IATA) said yesterday. The estimate is based on projections of a 13-per cent...
This will be the first time since the 2008-2009 financial crisis that demand for air travel has declined, Iata Director General and CEO Alexandre de Juniac said. — Reuters pic
The estimate is based on projections of a 13-per cent full-year decline in passenger demand, mostly in China, the trade body said. IATA said its estimate assumed that Covid-19 behaved like the SARS outbreak nearly two decades ago, which was “characterised by a six-month period with a sharp decline followed by an equally quick recovery”.
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