Airlines in the Asia-Pacific region will be the hardest hit by the Covid-19 crisis, says the International Air Transport Association (IATA).
The global airline industry group says it is expecting $29 billion in losses in 2020 for airlines in the Asia Pacific region. This is more than a third of the projected $84.3 billion industry losses worldwide for 2020, says IATA.
According to IATA, the region’s airlines will see passenger demand (measured in revenue passenger kilometers, RPK) collapse 53.8 per cent this year, while capacity (in available seat kilometers, ASK) will be reduced by 39.2 per cent.
“2020 is the worst year in aviation history and airlines are in survival mode,” said Conrad Clifford, IATA’s regional vice president for Asia Pacific.
“It will take a few years for the industry to get back to 2019 levels of activity. In the interim, governments will need to continue providing financial relief and assistance to airlines as well as flexibility in slot usage. We are also working with airports and air navigation service providers to identify areas of cooperation with a view to reducing costs for airlines,” he added.
IATA published the following table showing the country-level impact:
|
|
Percentage change in passenger demand (2020 vs 2019) |
Passenger demand impact (origin-destination volumes – 2020 vs 2019) |
Revenue impact (US$, millions, 2020 vs 2019) |
Potential jobs impact, aviation and sectors dependent on aviation |
|
Australia |
-53% |
-52,510,000 |
-14,770 |
-376,100 |
|
Bangladesh |
-49% |
-5,660,000 |
-1,090 |
-63,300 |
|
Fiji |
-51% |
-1,170,000 |
-310 |
-65,500 |
|
India |
-49% |
-93,270,000 |
-11,610 |
-3,060,000 |
|
Indonesia |
-50% |
-60,560,000 |
-8,320 |
-2,096,800 |
|
Japan |
-53% |
-99,790,000 |
-23,920 |
-620,700 |
|
Malaysia |
-52% |
-34,060,000 |
-4,300 |
-224,800 |
|
Maldives |
-53% |
-2,830,000 |
-660 |
-38,300 |
|
Nepal |
-52% |
-3,490,000 |
-530 |
-234,200 |
|
New Zealand |
-52% |
-13,250,000 |
-3,480 |
-176,400 |
|
Pakistan |
-53% |
-10,100,000 |
-1,870 |
-265,600 |
|
Philippines |
-49% |
-29,880,000 |
-4,630 |
-569,800 |
|
Republic of Korea |
-54% |
-61,430,000 |
-11,120 |
-383,400 |
|
Singapore |
-50% |
-24,770,000 |
-6,950 |
-175,900 |
|
Sri Lanka |
-60% |
-4,150,000 |
-730 |
-418,800 |
|
Thailand |
-53% |
-56,820,000 |
-8,460 |
-2,209,900 |
|
Vietnam |
-46% |
-32,600,000 |
-4,430 |
-1,011,200 |
