UPDATE 2-Global airlines' estimated coronavirus losses rise to $314 bln -IATA [Reuters]
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Source: Reuters
Global airlines' estimated coronavirus losses rise to $314 billion: IATA PARIS/LONDON (Reuters) - Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, owing to the severity of the economic downturn and a slower than previously expected reopening of international routes. The latest forecast from the International Air Transport Association (IATA) is up from the $252 billion figure given on March 24 and represents a 55% drop in 2020 passenger revenue compared with last year. Traffic measured in revenue passenger kilometres is forecast to be 48% down this year, compared with the previously forecast 38% decline, industry body IATA said at a weekly online news conference on Tuesday. The pandemic has brought air travel to a standstill, with many airline fleets grounded and no visibility on when travel restrictions will be eased. IATA has urged governments to provide airlines with liquidity urgently to help them to surv
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