Airlines in Asia-Pacific stand to lose US$27.8b in coronavirus crisis: IATA

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PARIS: Airlines operating in the Asia-Pacific region stand to lose a combined US$27.8 billion of revenue this year in the ongoing coronavirus ...

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PARIS: Airlines operating in the Asia-Pacific region stand to lose a combined US$27.8 billion of revenue this year in the ongoing coronavirus crisis, the International Air Transport Association said on Thursday .

The estimate is based on projections of a 13 per cent full-year decline in passenger demand, mostly in China, the trade body said in a statement.IATA said its estimate assumed that COVID-19 behaves like a SARS outbreak nearly two decades ago, which was"characterised by a six-month period with a sharp decline followed by an equally quick recovery".Carriers outside the Asia-Pacific region are seen suffering US$1.5 billion in losses.

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Which is the only reason they’re canceling flights. They’re not worried about public health. They’re worried about profits.

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