India covid-19 Government travelers India

COVID-19 fallout: Indian airlines staring at $3.6 billion loss

Reading now: 695
www.livemint.com

As many countries in the world are closing their borders, the COVID-19 outbreak has acutely impacted the travel industry, especially airlines witnessing the most notable casualties.

According to the International Air Transport Association (IATA), airlines could lose a quarter of a trillion dollars in revenue this year as commercial flights come to a grinding halt.

Sydney-based CAPA Centre for Aviation estimates that many carriers will go bankrupt by the end of May if they cannot find support and further predicted that about half of all global airlines could go out of business before the end of the year.

Bloomberg, using the Z-score method developed by Edward Altman in the 1960s to predict bankruptcies, determined that among airlines that

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA