Global airline revenues are forecast to drop by more than half – $314bn – in 2020, as the industry warns that its “outlook grows darker by the day”.
The International Air Transport Association’s (Iata) latest estimate adds a further $62bn of lost revenue from its previous assessment in late March and is almost three times worse than its “worst-case scenario” from five weeks ago, with around 95% of international passenger traffic now lost due to travel restrictions.
The figures would mean a 55% drop in revenue from 2019, as Iata factored in the extension of travel restrictions, a deepening recession and the further spread of Covid-19 to Africa and Latin America.
Read more via The Guardian/IATA
