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Airlines May Take $252 Billion Hit From Pandemic, IATA Says (1)

March 24, 2020, 1:51 PM

Airlines worldwide could lose $252 billion in revenue this year from the coronavirus pandemic, threatening the survival of the industry, according to the International Air Transport Association.

The anticipated hit is more than double a decline mooted by IATA earlier this month, reflecting the steep downward spiral of many carriers as they grapple with a crisis more severe than anything the sector has ever faced, the trade group said Tuesday.

While governments around the world have pledged support, a liquidity crisis is “coming at full speed,” IATA Chief Executive Officer Alexandre de Juniac said in a webcast briefing. States ...