admin MONTREAL – ICAO delivered its first finalised 2020 air passenger forecast , declaring that airlines may be faced with 1.5 billion fewer international air travellers this year.
Simultaneously, international seats could drop by almost three-quarters, resulting in a 273 bn dollar loss as compared to ealier expected gross operating revenues.
“In today’s updated analysis, the analytical timeframe was extended for another three months to December 2020, and more reliable air fare data was used to calculate revenue reduction,” opined ICAO Secretary General Dr. Fang Liu.
ICAO has been giving regularly updated analysis on the economic impact of COVID-19 on air transport since early February 2020, and is providing continuous guidance to air transport planners, regulators, and operators. The projections are important to many countries now planning their COVID-19 recovery scenarios, given the importance of tourism, global supply chains, and many other air connectivity factors to local socio-economic prosperity.
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