Global airlines estimated losses due to coronavirus rise to $314 billion: IATA
R Sinduja
News Editor
Image Credit: shortpedia
The IATA estimates the global airline losses from the coronavirus pandemic rose to $314 billion, 25% more than previously forecast due to the severity of the economic downturn and a slower than previously expected to reopen international routes. The latest forecast represents a 55% drop in 2022 passenger revenue compared to last year. Traffic measured in terms of revenue passenger km is expected to be 48% down this year.
