Global airline business to lose billions because of coronavirus
JOHANNESBURG – The International Air Transport Association (Iata) on Thursday said it foresaw 2020 global airline revenue losses for the passenger business of between $63 billion and $113bn as the coronavirus hits the industry.
Many airlines were cutting capacity and taking emergency measures to reduce costs, it said.
Iata’s gloomy forecast comes as UK airline Flybe collapsed Thursday as a slump in demand for flights because of the novel coronavirus outbreak dealt the final blow to the struggling carrier.
Source: iol.co.za