ICAO predicts 16.4m pax decline, USD4.1bn revenue loss in 1Q2020 from coronavirus

ICAO forecast (11-Feb-2020) a decline in global traffic of 16.4 million passengers, resulting in potential revenue loss of USD4.1 billion, if the current proportion of China seat capacity reductions persists into Feb-2020 and Mar-2020. If the proportion of China seat capacity reduction increases, ICAO predicts passenger traffic to decline by 19.6 million, resulting in a potential revenue loss of USD4.9 billion. The top five countries most affected by the loss of Chinese tourists are Thailand, Japan, the US, France and Australia, with an estimated combined total economic loss of USD24 billion. [more - original PR - Chinese]