COVID-19 Pandemic Lays More than 50% of 2020 Passenger Revenues at Danger

  • Apr 15, 2020 AEST
  • Team Kalkine

The IATA (International Air Transport Association) unveiled the updated analysis confirming that the coronavirus pandemic would see a drop by $314 billion in airline passenger revenues in 2020, a 55% decline as compared to 2019.

Moreover, IATA mentioned that on 24 March the agency estimated $252 billion in lost revenues in a situation with serious restrictions in travel lasting three months.

Notably, the full-year passenger demand, both domestic as well as international, is anticipated to decline by 48% as compared to 2019. The two major aspects pushing the market down are- overall economic developments and travel restrictions.

 

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