COVID-19 Crisis: Airlines Revenue Down By Rs 85k Crore, 2.9 Million Jobs At Stake
Mumbai: The Indian Aviation sector has witnessed a slump thanks to the dipping revenue following suspension of commercial flights to contain the spread of novel coronavirus.
Airlines’ revenue has dropped sharply, by over Rs 85,000 crore, compared to last year. About 29,32,900 jobs in aviation and allied sectors are potentially at stake in the country, the International Air Transport Association (IATA) said in its latest estimates.
Projecting their estimates based on travel restrictions lasting three months worldwide, IATA also said that the passenger traffic has witnessed a decline of 47 per cent compared to last year.
Globally, the COVID-19 pandemic is likely to trigger a loss of $314 billion in 2020 — down by 55 per cent compared to 2019.
All domestic and international flights remain suspended in India till May 3.