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

Airline income this 12 months will plunge 60 % on account of the coronavirus pandemic which threatens the survival of the business, the Worldwide Air Transport Affiliation (IATA) mentioned Tuesday, November 24. “The Covid-19 disaster threatens the survival of the air transport business,” 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 big and ‘unprecedented’ losses.