IATA: Asia Pacific carriers will see largest revenue drop of USD113bn in 2020

IATA forecast (24-Apr-2020) Asia Pacific carriers will see the largest revenue drop of USD113 billion year-on-year and a 50% passenger decline in 2020. The estimates are based on a scenario of severe travel restrictions lasting for three months, with a gradual lifting of restrictions in domestic markets, followed by regional and intercontinental. Regional VP Asia Pacific Conrad Clifford identified India, Indonesia, Japan, Malaysia, the Philippines, South Korea, Sri Lanka and Thailand as priority countries that must take urgent action. Mr Clifford stated: "Every airline job supports another 24 in the travel and tourism value chain", adding 11.2 million jobs in the Asia Pacific region are at risk. [more - original PR]