Airline Association is forecasting due to Virus billions in losses

The loss of revenue to the airlines due to the novel Coronavirus is much more drastic than it was even two weeks ago thought. The industry Association Iata is w

Airline Association is forecasting due to Virus billions in losses

The loss of revenue to the airlines due to the novel Coronavirus is much more drastic than it was even two weeks ago thought. The industry Association Iata is widely believed that the airlines will lose this year in the passenger business between 63 and 113 billion dollars of revenue.

113 billion euros, corresponding to a share of 19 percent of the total volume and was in the Dimension with the financial crisis of 2008/2009, comparable, he said on Thursday. The impact on the freight business were not yet estimated.

The Passenger declines were in European countries is at least as strong as in Asia. A strong fall-off in demand would follow the assumptions, according to a quick recovery. Also, the Swiss and its parent company Lufthansa have been forced to take drastic steps.

In a somewhat more cautious scenario, with a limited spread of the novel Coronavirus, the Iata expects world's 63 billion dollars less in revenue. The most violent impact, the experts expect in China, Italy and Iran.

call to governments

Iata-Chef Alexandre de Juniac called on the governments to support the airlines. There were extraordinary times in which the industry will need the facilitation of taxes, fees, and the allocation of landing rights.

just two weeks ago, the organization had held a sales decline of up to 29.3 billion dollars for probably. It was assumed that Covid-19 limited largely to work closely with China related markets. In the meantime, spread the Virus, but in more than 80 countries and the Ticket advance bookings on routes to China had fallen sharply. (fal/sda)

Created: 05.03.2020, 12:48 PM

Updated Date: 05 March 2020, 12:01

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