National Economy
Friday, August 1, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home News

Global Airlines May Lose $113bn Over Coronavirus-IATA

by
5 years ago
in News
Reading Time: 2 mins read
Share on FacebookShare on TwitterShare on Telegram

You May Like

Stakeholders Warn Against Weakening FoI Act

NYG: Weightlifting Federation Begins Implementation Of New Bodyweight Categories

Global airlines stand to lose $113 billion in sales if the coronavirus outbreak continues to spread, according to the International Air Transport Association. The airline stocks have been also seriously hit.

Amid the coronavirus spread, except cruise-liner stocks that were affected the most, the second one on the hit is the airline sector. Shares of American Airlines Group Inc. are continuously falling a few days in a row.

Southwest Airlines Co stock was plummeting 4.20 percent to $43.35 in the premarket session while Delta Air Lines Inc stock was down 4.02 percent to $43.20. United Airlines Holdings Inc. stock was down 6.01 percent to $48.49.

The industry has obviously taken a tremendous hit by the travel slowdown. Airplanes are ghostly empty and everybody is wondering is that a bottom edge.

Already, shares of Spirit Airlines Incorporated, Hawaiian Holdings Inc and American Airlines Group Inc. are down around 40 percent year to date, and many other airline stocks are not far behind.

United Airlines recently announced it is cutting its flight schedule for April as the coronavirus outbreak continues to impact demand. United’s domestic schedule will be reduced by 10 percent, while international flights will be cut back by 20 percent.

The airline has revealed it sees a decline in near-term demand in Asia amid the COVID-19 outbreak. The near-term demand in trans-Pacific routes, excluding China showed a drop of 75 percent, with the decrease in demand in China nearing 100 percent.

The International Air Transport Association at the weekend said the coronavirus could cost airlines approximately $113 billion in lost 2020 revenue worldwide. That’s a lot more than the $29 billion estimate it had forecasted just weeks ago.

Already, British regional carrier Flybe announced on it has entered administration. The collapse of the company comes due to the failure to raise enough funds combined with the coronavirus-related lack of bookings.

Tags: corona virusIATA
ShareTweetShare
Previous Post

Belt Tightening Ahead, As OPEC Russia Talks Fail

Next Post

BMO Backs PMB’s $22.7bn Loan Approved By Senate

ANOTHER GOOD READ

Stakeholders Warn Against Weakening FoI Act
News

Stakeholders Warn Against Weakening FoI Act

3 days ago
NYG: Weightlifting Federation Begins Implementation Of New Bodyweight Categories
News

NYG: Weightlifting Federation Begins Implementation Of New Bodyweight Categories

4 days ago
‘Legal Backing Needed For Gratuity Reintroduction Under CPS’
News

‘Legal Backing Needed For Gratuity Reintroduction Under CPS’

4 days ago
Zolair Energy Solutions Launches Nigeria’s First Integrated E-Tricycle, Battery Plant
News

Zolair Energy Solutions Launches Nigeria’s First Integrated E-Tricycle, Battery Plant

4 days ago
Insurers Battle NASS Over Legality Of Oversight Function In Insurance Business
News

Insurers Battle NASS Over Legality Of Oversight Function In Insurance Business

4 days ago
Elumelu Donates N25bn To Produce For Lagos Initiative
News

Elumelu Donates N25bn To Produce For Lagos Initiative

4 days ago
Next Post

BMO Backs PMB’s $22.7bn Loan Approved By Senate

Most Recent

Coca-Cola To Sell Chivita|Hollandia To UAC In Major Industry Shake-Up

Coca-Cola To Sell Chivita|Hollandia To UAC In Major Industry Shake-Up

July 30, 2025
Stakeholders Warn Against Weakening FoI Act

Stakeholders Warn Against Weakening FoI Act

July 29, 2025
Impact Of Fake Colleagues In A Workplace

Impact Of Fake Colleagues In A Workplace

July 28, 2025
NYG: Weightlifting Federation Begins Implementation Of New Bodyweight Categories

NYG: Weightlifting Federation Begins Implementation Of New Bodyweight Categories

July 28, 2025
Women’s Basketball Premier League: First Bank Makes Strong Start

Women’s Basketball Premier League: First Bank Makes Strong Start

July 28, 2025
WAFCON 2024: Senate Celebrates Super Falcons

WAFCON 2024: Senate Celebrates Super Falcons

July 28, 2025
Wakama Unveils D’Tigress’ Roster For 2025 AfroBasket Championship

Wakama Unveils D’Tigress’ Roster For 2025 AfroBasket Championship

July 28, 2025
‘Legal Backing Needed For Gratuity Reintroduction Under CPS’

‘Legal Backing Needed For Gratuity Reintroduction Under CPS’

July 28, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy