Airlines in Asia Pacific to lose $27.8 billionChristian Fernsby ▼ | February 22, 2020
Wuhan coronavirus outbreak is likely to have an adverse impact on airlines operating in Asia Pacific region (APAC) with a potential 13 per cent full year loss in passenger demand.
Air industry Pacific airline
Topics: Airline Asia Pacific
Most airlines across the globe have either suspended their operations to China or have drastically reduced their frequency as the pandemic so far has claimed over 2,200 lives and spread to many countries. Bulk of the fall would be borne by carriers registered in China with $12.8 billion loss in its domestic market alone, said IATA.
However, the coronavirus scare could also hurt growth prospects of Indian airlines, especially IndiGo which sees China as a key focus market. IndiGo and Air India have extended suspension of all their flights to China, including Hong Kong for the next three months. ■