Pandemic could bankrupt airlines

The coronavirus could have a $130 billion impact on the aviation industry – more than three times worse than the 9/11 terrorist attacks which resulted in a $40bn hit to airlines, according to IATA*


Air passenger market share (Jan 2020)

23% Projected drop in Chinese passenger numbers this year – revenue fall of $22.2bn 

Asia Pacific 34.7%

Europe 26.8%

24% Projected drop in passenger numbers – fall in revenue of at least $37bn

North America 22.2%

U.S. travel ban: U.S.-Schengen passenger market in 2019 was worth $20.6bn

U.S.-UK ban: Passenger revenue in 2019 worth $7bn

Mid East 9.1%

Latin America 5.1%

Africa 2.1%
       
Total revenue (2019) $873bn
    

International flight capacity cuts (Mar 16)

Finnair			90%
Chinese airlines†	85%
Air New Zealand		85%
Virgin Atlantic 	75-85%
American Airlines 	75%
Aer Lingus 		75%  
British Airways 	75%
Iberia 			75%
Air France-KLM 		70%
Biman Airlines 		70%
U.S.-Bangla 		60% 
United Airlines 	50% 
Delta 			40% 
Norwegian Air 		40% 
Qantas 			25%
               
  
*International Air Transport Association represents airlines that operate four in every five flights 

†Air China, China Southern, China Eastern and HNA Group


Sources: IATA, Flight Global, Stratfor 
Picture: Getty Images 
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