The International Air Transport Association has updated its analysis of the revenue impact of the Covid-19 pandemic on the global air transport industry.
Owing to the severity of travel restrictions and the expected global recession, IATA now estimates that industry passenger revenues could plummet $252 billion.
The figure is 44 per cent below that for last year.
This is in a scenario in which severe travel restrictions last for up to three months, followed by a gradual economic recovery later this year.
A previous analysis of up to a $113 billion revenue loss was made on March 5th, before the countries around the world introduced sweeping travel restrictions that largely eliminated the international air travel market.
“The airline industry faces its gravest crisis.
“Within a matter of a few weeks, our previous worst-case scenario is looking better than our latest estimates.
Read more via IATA