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Airlines could lose up to 113 billion dollars in revenue in 2020 due to the impact of the new coronavirus, as estimated by the International Air Transport Association (IATA) on Thursday.
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“The turn of events as a result of COVID-19 is almost unprecedented, ”Said the head of the association, Alexandre de Juniac, after a meeting in Singapore. “In just two months, the outlook for the industry in most of the world has become worse,” he added.
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The entity estimated that the losses will be between 63,000 and 113,000 million dollars, due to the decrease in revenue from passenger traffic worldwide in 2020, depending on the spread of the coronavirus,
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The least serious of the cases would occur in a scenario where the current situation does not worsen, especially in countries with more than a hundred cases (Italy, France, Germany, Spain, Iran, USA, South Korea, Japan, Singapore), always according to the calculations of the sector association. Thus, drops in passenger demand are estimated at 23% in China, 12% in Japan, 14% in South Korea, 24% in Italy and 10% in France and Germany, among other specially affected markets.
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However, in a more negative scenario, with wide expansion of COVID-19, demand could fall between 23 and 24% not only in China, but also in other East Asian countries and in most European markets Western and Middle Eastern, while in the US the drop in demand would be around 10%.
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The epidemic has caused a significant decrease in flights worldwide, which led numerous airlines, such as Lufthansa and Air France, to significantly reduce their traffic. In addition, the impact of coronavirus on aviation has been felt strongly in the stock markets in recent weeks, with generalized falls of around 10% and punctual soils of up to 20% for firms such as EasyJet or Ryanair, although since Monday the bags have recovered optimism.
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Only two weeks ago, On February 20, IATA had estimated that the outbreak would cost airlines $ 29.3 billion in revenue, but the calculation now grew to at least double.
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Since that date, the virus has spread rapidly outside of China, where it first emerged at the end of last year, and has now reached some 80 countries and territories. More than 95,000 people have been infected and more than 3,200 have died worldwide.
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“The turn of events as a result of COVID-19 is almost unprecedented”Said the head of IATA. “In just over two months, industry outlook in much of the world has taken a dramatic turn for the worse.”
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British airline Flybe He broke and left stranded passengers to whom he told them that they will have to return by their own means. The company announced its situation on Thursday, having evaded the collapse recently thanks to government assistance. But due to the coronavirus epidemic, global air traffic was drastically reduced and this ended up taking a fatal blow.
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“All aircraft are on the ground and operations in the United Kingdom ceased with immediate effect.”, He announced, calling his clients not to go to the airports since there are no alternative flights. Flybe, which had economic problems, remained under bankruptcy administration, explained the Civil Aviation Authority of Great Britain it’s a statement Thursday.
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“All Flybe flights are canceled. Please do not go to the airport since your Flybe flight will not take place”, Explained the note. and added: “Flybe customers are asked to find their own alternative trips with other airlines and train or bus operators“.
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(With information from AFP, EFE, Reuters)
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