Global airlines to lose $314 billion in revenue from coronavirus: IATA

A Boeing 777X airplane takes off on its first flight. (File photo: AP)

Global airlines will lose $314 billion in revenue due to the coronavirus pandemic in 2020 according to a forecast from the industry’s representative body IATA, which raised its estimate from the $252 billion figure given on March 24.

The $314 billion represents a 55 percent fall in passenger revenues compared to the previous year, on air traffic which is seen being 48 percent lower, said the International Air Transport Association in a weekly online news conference on Tuesday.

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Last Update: Wednesday, 20 May 2020 KSA 09:57 - GMT 06:57