International Air Transport Association (IATA) earlier said the last outbreak - SARS - in 2003, cost global airlines US$7bil, of which Asia Pacific airlines suffered a US$6bil loss. This time around the impact is even greater and even though experts suggested the losses to be more than US$7bil for the region, a prolonged outbreak would push the figures higher.
PETALING JAYA: More than three dozen airlines globally have cancelled or scaled back air services into China temporarily as passenger and cargo demand drops but a prolonged outbreak of the coronavirus (Covid-19) will impact badly on the revenue of the travel and tourism sector for this year.
At least one local airline has warned employees to be in sync with the airline’s cost-cutting measures as demand drops “to limit the risk of closing down, ’’ while another loss-making airline will be under more pressure from tourists reluctant to travel.
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