Covid-19 crisis cuts revenues, demand in airlines, says IATA
The International Air Transport Association says airlines could burn through US$61 billion of cash reserves in Q2 alone, which puts at risk 25 million jobs dependent on aviation. – EPA pic, April 15, 2020.
THE Covid-19 crisis will see airline passenger revenues dropping by US$314 billion in 2020, a 55% decline compared to 2019, according to the International Air Transport Association in its latest updated analysis on the sector. On March 24, IATA estimated the sector will lose US$252 billion in revenues if severe travel restrictions lasted for three months.
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