Aviation industry feels slump in ticket demand

Aviation industry feels slump in ticket demand
5.30 p.m .: According to the industry association IATA 2020, the spread of the corona virus could more than slow down the growth of global air traffic. According to initial calculations, ticket demand for airlines from the Asia-Pacific region is likely to be around 13 percent lower than expected due to the virus, the IATA said on Thursday. Since airlines from other regions are also affected, IATA expects fewer passenger air traffic worldwide than in the previous year.

As recently as December, IATA had forecast 4.1 percent growth in passenger air traffic worldwide in 2020. The lower demand and the cut flight offer as a result of the virus are likely to burden ticket sales with 4.7 percent. Compared to 2019, a decline in demand of 0.6 percent can therefore be expected, the association predicts.

The airlines lost $ 29.3 billion in revenue. Of this, $ 27.8 billion was attributable to companies in the Asia-Pacific region, and especially in China.

The association used the prognosis for the consequences of the coronavirus on the basis of its experience with the Sars epidemic in 2003, which at that time spanned six months. At the same time, the demand for plane tickets fell quickly and sharply, but then recovered just as quickly.