IATA: Asia Pacific carriers could lose USD29bn in 2020

IATA forecast (09-Jul-2020) carriers in the Asia Pacific region could lose USD29 billion in 2020 due to COVID-19, more than a third of the expected USD84.3 billion industry losses globally. The carriers are forecast to see a 53.8% decline in passenger demand and a capacity reduction of 39.2%. IATA regional VP Asia Pacific Conrad Clifford stated: "It will take a few years for the industry to get back to 2019 levels of activity", adding: "In the interim, governments will need to continue providing financial relief and assistance to airlines as well as flexibility in slot usage". [more - original PR]