$29 Billion Loss Expected for Asia-Pacific Airlines in 2020

$29 Billion Loss Expected for Asia-Pacific Airlines in 2020

Airlines in the Asia-Pacific region will be the hardest hit by the COVID-19 crisis, with losses expected to be $29 billion for 2020. This is more than a third of the $84.3 billion industry losses globally.

The Asia-Pacific region was the first region to feel the brunt of the COVID-19 crisis. The region’s airlines will see passenger demand (measured in revenue passenger kilometres, RPK) collapse 53.8% this year, while capacity (in available seat kilometres, ASK) will be reduced by 39.2%.

“2020 is the worst year in aviation history and airlines are in survival mode. The carriers in Asia-Pacific will experience the largest losses at $29 billion. That’s a loss of $30.09 per passenger. In this bleak outlook, the priority is for the region’s governments to facilitate the restart of air connectivity in line with the International Civil Aviation Organization’s Take-off guidance and principles,” 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,” said Clifford.

The updated country-level impact is given below:


Percentage change in passenger demand (2020 vs 2019) Passenger demand impact (origin-destination volumes – 2020 vs 2019) Revenue impact (US$, millions, 2020 vs 2019) Potential jobs impact, aviation and sectors dependent on aviation
Australia -53% -52,510,000 -14,770 -376,100
Bangladesh -49% -5,660,000 -1,090 -63,300
Fiji -51% -1,170,000 -310 -65,500
India -49% -93,270,000 -11,610 -3,060,000
Indonesia -50% -60,560,000 -8,320 -2,096,800
Japan -53% -99,790,000 -23,920 -620,700
Malaysia -52% -34,060,000 -4,300 -224,800
Maldives -53% -2,830,000 -660 -38,300
Nepal -52% -3,490,000 -530 -234,200
New Zealand -52% -13,250,000 -3,480 -176,400
Pakistan -53% -10,100,000 -1,870 -265,600
Philippines -49% -29,880,000 -4,630 -569,800
Republic of Korea -54% -61,430,000 -11,120 -383,400
Singapore -50% -24,770,000 -6,950 -175,900
Sri Lanka -60% -4,150,000 -730 -418,800
Thailand -53% -56,820,000 -8,460 -2,209,900
Vietnam -46% -32,600,000 -4,430 -1,011,200


About author

TnH Global
TnH Global 4048 posts

Our platform is the most comprehensive, current and accurate content destination for tourism that also offers the opportunity to connect and network with quality buyers and sellers.

Name: TnH Global              Email: admin@tnhglobal.com

You might also like


ET GBS 2017: India should invest in the future, not bullet trains says Bibop G Gresta of Hyperloop

The future of transportation is jet speed and on the ground. Banking on its pathbreaking technology that can make a capsule move inside a vacuum tube, simulating environments similar to


Treebo Hotels earns 2016 Tripadvisor Certificate of Excellence for 9 Properties

Treebo Group of Hotels, the Bangalore-based chain of budget hotels has announced receiving the TripAdvisor® Certificate of Excellence for 9 of its properties for 2016.In its sixth year, the achievement

Travel Trade

ATM Virtual on1-3 June 2020: Middle East’s tourism entertainment sector under the spotlight 

• Global research authority, Arival, to present exclusive insights and underscore the impact of COVID-19 on the tours, activities, and attractions sector • OTAs and Distribution for Tours and Attractions


UK government delays runway decision

The British government has delayed a decision on the potential construction of a new runway in the south-east of England until at least the middle of 2016. Citing concerns over


Grundfos helping India’s Metro Rails become more energy efficient

Grundfos India a leading manufacturer of pumps, has successfully installed around 100 energy efficient pumping systems for air-conditioning and plumbing applications in five key metro rail projects around the country.


Karnataka to promote golf tourism

The state of Karnataka has unveiled plans to develop its golf tourism sector, The Hindu reports. The Karnataka tourism department will now offer incentives to those investing in development of

Visa FAQs: VFS Global Addresses Travel and Visa Queries

The travel and tourism industry, unarguably, is one of the most affected sectors since the onset of COVID-19. With country borders sealed, cities brought to a standstill and all transportation


Government on ‘wait and watch’ mode in Air India stake sale: Nitin Gadkari

The government has decided to “wait and watch” for the next three-four months before taking a call on disinvestment of national carrier Air India due to prevalent market condition specially


Indian Railways launches mobile app to book unreserved tickets

No advance ticket booking is allowed since the app is only for unreserved tickets The Indian Railways has now introduced a mobile application that enables booking and cancellation of unreserved


CWT Appoints Vishal Sinha as CEO in India

Carlson Wagonlit Travel (CWT) has appointed Vishal Sinha as Chief Executive Officer of CWT India. He will be based in CWT India’s head office in Gurgaon. Reporting to Kai Chan,


Experience Oman’s rich wildlife and nature

Oman’s natural reserves and wildlife sanctuaries protect important coastal and desert habitats totaling almost 30,000kms. The sheer diversity of Oman’s landscapes will astonish and inspire you. Oman’s coastal waters are


India and Bangladesh eye travel without visas

India and Bangladesh are moving towards a visaless regime as practised between France and Germany and many European nations, Bangladesh high commissioner to India Syed Muazzem Ali said on Tuesday


No Comments Yet!

You can be first to comment this post!