GENEVA: Airline passenger revenues are set to plunge by 55%, or US$314 billion, in 2020 due to the coronavirus pandemic, the International Air Transport Association said Tuesday.
The crisis began for the aviation sector at the end of January when airlines suspended services to China, where the Covid-19 virus outbreak began. In its latest assessment, the association factored in longer-than-expected restrictions on international travel, and the virus spreading in Africa and South America.
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