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.
