BCA: Australia's domestic aviation 'lagging', USD1.5bn lost per month to border closures

Business Council of Australia (BCA) reported (22-Oct-2020) Australia's domestic aviation activity is "lagging" significantly compared to other countries, based on analysis undertaken by EY. As at Sep-2020 Australia's domestic traffic was at 21% year-on-year recovery, compared to 52% for the US, New Zealand (68%), Japan (75%), China (107%) and South Korea (110%). The study also indicates economic damage from state border closures will "escalate", with domestic losses estimated at AUD2.1 billion (USD1.5 billion) per month or AUD69 million (USD49.2 million) per day. BCA noted resuming domestic aviation from Dec-2020 to the end of Jan-2021 could generate AUD3.3 billion (USD2.4 billion) in domestic revenue. [more - original PR]