Home Buisness news Coronavirus crisis to cut airline 2020 revenues 60%: IATA

Coronavirus crisis to cut airline 2020 revenues 60%: IATA


Airline income this yr will plunge 60 % because of the coronavirus pandemic which threatens the survival of the trade, the International Air Transport Association (IATA) stated Tuesday.

“The Covid-19 crisis threatens the survival of the air transport industry,” with 2020 possible to go down in historical past as its “worst” yr ever, IATA stated.

It stated that whereas airways have been slashing prices by $1 billion a day, grounding fleets and reducing jobs, they’re nonetheless racking up enormous and “unprecedented” losses.

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