IATA Estimates Global Aviation Business to Lose $113bn As an Effect of Covid-19
IATA Estimates Global Aviation Business to Lose $113bn As an Effect of Covid-19
IATA Estimates Global Aviation Business to Lose $113bn As an Effect of Covid-19
6 มี.ค. 2563

The International Air Transport Association (IATA) reported the updated impact assessment of the novel coronavirus which showed the estimation of revenues lost for global aviation industry approx. as high as $113 billion. 
IATA addressed that the covid-19 will caused the airlines business worldwide to lose a revenue of $63 billion. The latest estimation is almost four times from the previous forecast lost of $30 billion only 13 days ago, resulting the epidemic spreading in Europe.
IATA’s the limited spread scenario presented a decline of passenger number globally, the passenger in China market dropped by 23%, 12% decrease in Japan, 10% in Singapore, 14% in South Korea, and an 11% decline in Asia Pacific.
“The turn of events as a result of coronavirus is almost without precedent.”, “In little over two months, the industry’s prospects in much of the world have taken a dramatic turn for the worse,” Alexandre de Juniac,IATA’s Director General and CEO, said in a statement. “It is unclear how the virus will develop, but … this is a crisis.”
Noted that this new forecast has excluded lost cargo revenue.