14 February 2020, Friday 13:20:38

Virus could mean US$5 billion in airline losses

The new coronavirus outbreak could mean a reduction of US$4-5 billion in worldwide airline revenue, the International Civil Aviation Organization (ICAO) said on Thursday (Feb 13).

The new coronavirus outbreak could mean a reduction of US$4-5 billion in worldwide airline revenue, the International Civil Aviation Organization (ICAO) said on Thursday (Feb 13).

The UN agency reported that 70 airlines have canceled all international flights in and out of China and 50 others have reduced their operations.

Preliminary estimates show this has meant a reduction of nearly 20 million passengers compared to expectations for the first quarter of 2020.

That figure equates to potential lost revenue of up to US$5 billion, the agency said.

Virus could mean US$5 billion in airline losses

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