Airline 2020 revenue cuts 60% in coronavirus crisis: IATA – Business News

Airline 2020 revenue cuts 60% in coronavirus crisis: IATA – Business News

The International Air Transport Association (IATA) said on Tuesday that the airline’s revenue would decline 60 percent this year due to the coronovirus epidemic.

“The Kovid-19 crisis threatens the survival of the air transport industry,” with 2020 likely to go down as its “worst” year in history, IATA said.

It added that airlines have cut costs by $ 1 billion per day, grounding the fleet and cutting jobs, yet they are incurring huge and “unprecedented” losses.

STAY TUNED WITH US FOR MORE INTERESTING CONTENT ONLY ON DESINEW.XYZ

Leave a Reply

Your email address will not be published. Required fields are marked *