Airlines around the world are already experiencing a large-scale crisis due to the COVID-19 coronavirus, which has already forced them to reduce passenger transportation. The industry is threatened with multibillion-dollar losses and the worst year in the last decade.
Two weeks ago, the International Air Transport Association (IATA) estimated the reduction in airline turnover due to the outbreak of the virus at $30 billion. As of March 20, the figure has doubled to 63 billion dollars.
"The situation is extraordinary," emphasizes IATA head Oleksandr de Juniac. - Events develop according to the script, there are almost no precedents. In about two months, the prospects of the industry around the world have sharply deteriorated."
Before the new year, IATA issued a rosy forecast: global aviation was preparing to increase revenue by 4% to 870 billion dollars and earn almost 30 billion in net profit.
Three months passed, and it was no longer about profit, but about survival.
We are monitoring the situation and hope for positive news.
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