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Coronavirus Expected to Cost Airlines More Than $29 Billion This Year

Video Credit: Wibbitz Studio - Duration: 01:00s - Published
Coronavirus Expected to Cost Airlines More Than $29 Billion This Year

Coronavirus Expected to Cost Airlines More Than $29 Billion This Year

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

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