Moneycontrol
Get App
you are here: HomeNewsWorld
Last Updated : Mar 09, 2020 02:32 PM IST | Source: PTI

Coronavirus outbreak may cause $3 bn revenue loss for airports in Asia Pacific

Asia-Pacific is suffering the highest impact, with passenger traffic volumes down by 24 percent for the first quarter of the current year, compared to projected traffic levels without COVID-19, as per ACI World estimates.

Prolonged duration of the coronavirus outbreak could result in a revenue loss of $3 billion for airports in the Asia Pacific region, a global airports' grouping said.

Airports Council International (ACI) Asia Pacific also urged regulators and governments to implement well-defined adjustments and relief measures tailored to suit local-level contexts.

Asia-Pacific is suffering the highest impact, with passenger traffic volumes down by 24 percent for the first quarter of the current year, compared to projected traffic levels without COVID-19, as per ACI World estimates.

Close

Citing the ACI World Airport Traffic Forecasts for 2019–2040 predicted that $12.4 billion revenue for the first quarter in the Asia-Pacific region in the "business as usual" scenario, the ACI-APAC said in a release.

"The impact of COVID-19 is projected to have a revenue loss of $3 billion," it said.

Within the Asia-Pacific region, mainland China, Hong Kong SAR and the Republic of Korea remain at the centre of the effects with sizeable losses in traffic volumes, it added.

Meanwhile, there is a sharp spike in the number of COVID-19 cases in several countries in the Middle East, expecting to significantly impact traffic downwards by a negative 4.2 percent as travellers and airlines adjust their plans and seat offers in the coming days and weeks, it added.

Against this gloomy background of sharp declines in traffic and passenger throughput, airports' aeronautical revenues and non-aeronautical revenues are rendering similar declines, the ACI-APAC said in the release.

ACI is a grouping of airports. It serves 668 members, operating 1,979 airports in 176 countries.

Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!

First Published on Mar 9, 2020 02:25 pm
Sections
Follow us on