Coronavirus Expected to Cost Airlines More Than $29 Billion This Year The figure comes from the International Air Transport Association (IATA).
The IATA predicts that most of the loss will be in the Asia-Pacific region, and airlines in China alone will see a decrease of nearly $13 billion.
The association previously estimated demand growth to be 4.1 percent this year.
It has now plummeted to a 0.6 percent contraction.
IATA’s CEO, Alexandre de Juniac, says 2020 will be a very tough year for airlines.
Alexandre de Juniac, via press release Alexandre de Juniac, via press release