Airlines
IATA Sees a Near $30B Loss from Coronavirus
Airlines in Asia-Pacific will experience a 13-percent loss of passenger demand for 2020, estimates IATA

A first assessment of the traffic effects of the Novel Coronavirus 2019 outbreak (COVID-19) from the International Air Transport Association (IATA) shows the potential for a 13-percent full-year loss of passenger demand for carriers in the Asia-Pacific region. Considering an original growth forecast for the region of 4.8 percent, Asia-Pacific airlines will experience an 8.2 percent full-year contraction compared with 2019 demand levels. That would translate into a $27.8 billion revenue loss in 2020 for airlines in the Asia-Pacific region, the bulk of which carriers registered in China would bear, as the Chinese domestic market alone sees $12.8 billion in losses.