ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Coronavirus

Coronavirus to cause $27.8bn revenue loss for Asian carriers: IATA

Global loss would be $29.3bn with demand set to fall for first time since 2009

Chinese airlines are set to bear the brunt of lost revenues caused by the coronavirus outbreak.   © Reuters

NEW YORK -- The new coronavirus outbreak will result in revenue losses of $27.8 billion in 2020 to airlines in the Asia-Pacific region in 2020, nearly half of them Chinese carriers, the International Air Transport Association said on Feb. 20.

"We estimate that global traffic will be reduced by 4.7% by the virus, which could more than offset the growth we previously forecast and cause the first overall decline in demand since the global financial crisis of 2008-09," said Alexandre de Juniac, IATA's Director General and CEO.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more