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The Silicon Review Asia

COVID-19 gives a hard blow to the airport industry

COVID-19 gives a hard blow to the airport industry

Due to the coronavirus outbreak, the airport industry has seen a major downfall; and it is reported that there is loss of about 1.5 billion passengers, which makes it up to USD 5.6 billion, in the Asia-Pacific region.

According to global grouping, "Taking into account the rapid developments, ACI estimates place the first quarter loss in Asia-Pacific in the range of USD 5.6 billion, almost double earlier estimates, a large portion of which comes from the contraction in traffic as well as non-aeronautical revenue. The impact of the Middle East will generate a loss of approximately USD 1 billion for the first quarter and at least double for the full year."

It is observed that the large portion of loss is caused due to the shrinkage in traffic and non-aeronautical revenue, and it is anticipated that the loss in the Middle East is roughly around 1 billion for the first quarter and it can double for the full year.

Airports Council International (ACI) requested the government to take immediate action and implement relief measures to protect airport employment and connectivity.

Significant number of small airports who were handling less than one million passengers has also seen the hardest hit by the crisis, according to ACI-Asia Pacific.

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