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Airlines in the Asia-Pacific region were the first to face the challenges imposed by the coronavirus. The region was the first to paralyze its air connectivity and the first to get isolated from the rest of the globe.
At the same time, before the crisis hit, carriers in the Asia-Pacific market were predicted to experience exponential growth over the upcoming years. Thus, no surprise, that airlines particularly in this region are expected to be the most severely affected by the pandemic.
According to IATA, Asia-Pacific airlines’ market will suffer $29 billion losses for 2020, which is more than a third of the $84.3 billion industry losses globally.
“The region’s airlines will see passenger demand (measured in revenue passenger kilometers, RPK) collapse 53.8% this year, while capacity (in available seat kilometers, ASK) will be reduced by 39.2%,” IATA said in a statement.