Airlines Risk Losing Up to 100,000 Million Due to the Coronavirus

The International Air Transport Association, IATA, has issued a report that states that

the coronavirus epidemic could lead to a reduction in revenues of between 56.4 million euros and 101.2 million euros worldwide in aeroplane passenger transport.

A couple of weeks ago, IATA initially calculated a global revenue reduction of “only” 25.963 million euros but it has now chosen to revise that figure drastically because the epidemic has spread widely since then, with around 80 countries affected around the world.

“The development of the coronavirus crisis is almost unprecedented. In just over two months the economic outlook for most of the world has taken a dramatic negative turn”, said IATA Director General Alexandre de Juniac.