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Airlines Warn of First Global Traffic Drop Since 2009 on Virus

  • IATA cuts forecast just two months after predicting growth
  • Impact will be worst in Asia-Pacific region, trade group says
Bloomberg business news
IATA CEO on First Annual Decline in Global Passenger Demand
Updated on

The airline industry expects the first annual decline in global passenger demand in 11 years, after tallying up the initial impact of the thousands of flights canceled because of the coronavirus outbreak in China.

The estimate shaves about 4.7 percentage points off of a passenger-traffic forecast issued just two months ago, with almost all of the impact in the Asia-Pacific region, according to the International Air Transport Association. That may be conservative. The projections assume the losses will be limited to markets linked to China.