Airlines cut domestic fares by an average 23per cent last month as traffic picked up from April lows, global airline body IATA said on Wednesday - warning that post-coronavirus discounting posed a further threat to profitability.
Domestic passenger traffic rose 30per cent globally in May from a very low base in April, when much of the industry was brought to a near-standstill by the COVID-19 pandemic, IATA said in an online presentation.But the uptick came at the price of fare cuts that airlines can ill afford on top of extra health measures and other new coronavirus-related costs.
"The challenge that unit costs will have been increased by a number of restrictions that have been put in place," Pearce said, predicting"quite a difficult time for airlines" as flights gradually resume.
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