Home Buisness news COVID-19 Crisis To Cut Airline Revenues By 60% In 2020: Aviation Body

COVID-19 Crisis To Cut Airline Revenues By 60% In 2020: Aviation Body


Airline income this 12 months will plunge 60 % because of the coronavirus pandemic which threatens the survival of the business, the International Air Transport Association (IATA) mentioned Tuesday, November 24. “The Covid-19 crisis threatens the survival of the air transport industry,” with 2020 prone to go down in historical past as its “worst” 12 months ever, IATA mentioned.

It mentioned 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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