$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

 

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