Domestic air travel falls 70 pct with a slow recovery outlook amid coronavirus: IATA
Domestic air traffic is down 70 percent globally and the recovery over the coming six months is likely to be slow due to the damage coronavirus has done to economic conditions, the industry’s representative body IATA said on Tuesday.
While domestic markets will open sooner than long-haul, the damage done to consumer confidence will undermine a quick recovery, Brian Pearce, chief economist with the International Air Transport Association, told journalists on a conference call.
“The economic environment that we are expecting over the next six months is really not conducive to any substantial return to air travel for financial reasons... which is why we are expecting to see that recovery in the third quarter to be relatively modest,” Pearce said.
Global airlines to lose $314 billion in revenue from coronavirus: IATAGlobal airlines will lose $314 billion in revenue due to the coronavirus pandemic in 2020 according to a forecast from the industry’s representative ... Coronavirus
Coronavirus could put 25 mln aviation jobs at risk: IATAGlobal airlines warned that 25 million jobs across the world could be at risk from the coronavirus travel downturn and the industry's representative ... Economy
Airline industry faces $39 bln net loss for second quarter due to coronavirus: IATAGlobal airlines warned on Tuesday that many carriers may not survive a record cash squeeze in the second quarter, as revenues and traffic plunge ... Aviation & Transport