The International Air Transport Association (IATA) said recently that airlines in the Asia-Pacific region will be worst-hit by the coronavirus compared to other regions.

The global airline industry group said Asia-Pacific airlines stand to lose as much as US$29 billion in 2020 due to the COVID-19 disruptions — accounting for more than a third of the estimated industry losses of US$84.3 billion this year.

Survival mode for airlines

“2020 is the worst year in aviation history and airlines are in survival mode,” said Conrad Clifford, IATA’s regional vice president for the Asia Pacific.

“It will take a few years for the industry to get back to 2019 levels of activity. In the interim, governments will need to continue providing financial relief and assistance to airlines as well as flexibility in slot usage. We are also working with airports and air navigation service providers to identify areas of cooperation with a view to reducing costs

for airlines.”

IATA noted that carriers in Asia-Pacific will see passenger demand shrink 53.8%, while capacity will decrease 39.2%.

By country, IATA noted that Japan will take the most beating with the most revenue impact this year compared to 2019, followed by Australia, India, South Korea, Thailand, Indonesia, Singapore, Philippines, Vietnam, Malaysia and New Zealand.