Airlines in Asia Pacific to lose $27.8 billion
Topics: AIRLINE ASIA PACIFIC
According to International Air Transport Association (IATA), the decline could translate into a $27.8 billion revenue loss in 2020 for carriers in the region, home to some of the fastest growing airlines in the world.
Most airlines across the globe have either suspended their operations to China or have drastically reduced their frequency as the pandemic so far has claimed over 2,200 lives and spread to many countries. Bulk of the fall would be borne by carriers registered in China with $12.8 billion loss in its domestic market alone, said IATA.
However, the coronavirus scare could also hurt growth prospects of Indian airlines, especially IndiGo which sees China as a key focus market. IndiGo and Air India have extended suspension of all their flights to China, including Hong Kong for the next three months. ■