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The International Air Transport Association (IATA), which represents the world’s leading airlines, has estimated that Indian passenger traffic will see a negative growth of 47 percent in 2020 compared to 2019. IATA said that Indian aviation and Related sectors such as tourism will suffer 2.93 million job losses, with the number of annual passengers falling to 89.7 million in the country.
The latest IATA estimates indicate a worsening of the country’s impact from the Covid-19 crisis in the Asia Pacific region.
Airlines in Asia Pacific will see the biggest revenue drop of $ 113 billion in 2020 compared to 2019 and a 50% drop in passenger demand in 2020 compared to 2019, IATA estimated.
Conrad Clifford, Regional Vice President of IATA (Asia-Pacific) identified India, Indonesia, Japan, Malaysia, the Philippines, the Republic of Korea, Sri Lanka and Thailand as priority countries to take action. “The situation is deteriorating and the airlines are in survival mode. There will be more victims if governments do not intervene urgently to ensure that airlines have sufficient cash flow to overcome them during this period, ”he said.
“Providing support to airlines has a broader economic implication. Jobs in many sectors will be affected if airlines do not survive the COVID-19 crisis. In the Asia-Pacific, 11.2 million jobs are at risk, including those dependent on the aviation industry, such as travel and tourism, “added Clifford.
While airlines continue to transport essential goods, after containing the COVID-19 pandemic, governments will need airlines to support economic recovery, connect manufacturing hubs, and support tourism; because governments must act urgently now, before it is too late, IATA said.
