Maritime logistics players openly defy Shipping Ministry order on waiving charges

Indian airlines and associated industries could see revenue losses at the pace of Rs 1122.1 crore because there is a decrease of 47 percent year-on-year (YoY) increase in passenger demand. The International Air Transport Association (IATA) published an revised review of the Covid-19 crisis on Friday, revealing that. The apex body also estimated this failure could cost more than 29.32 lakh citizens jobs.

Latest IATA forecasts have suggested a decline in the Asia Pacific area. Airlines in Asia Pacific will see the highest drop in sales of US$ 113 billion in 2020 compared to 2019 (-US$88 billion in an estimation of 24 March) and a 50% fall in passenger traffic compared to 2019 (-37% in an estimation of 24 March). “Such forecasts are focused on a scenario of extreme travel restrictions that continue for three months, with a gradual easing of domestic sector restrictions, accompanied by national and intercontinental restrictions,” the apex body said.

Src: thehindubusinessline.com