The Advisory Bulletin, The impact of COVID-19 on the airport business, reveals the global airport industry will record a reduction of more than 6 billion passengers by the end of 2020 compared to the pre-COVID-19 forecast for 2020, representing a decline of -64.2% of global passenger traffic.
Europe and the Middle East are predicted to be the two most impacted regions – with declines above -70% compared to the projected baseline – while Asia-Pacific has embarked on recovery earlier and faster than other regions and is forecasted to close the year 2020 with a decline of -59.2%, which was driven by large domestic markets such as China. Asia-Pacific is the only region recording a decline below -60%.
The airport industry was expected to generate about $172 billion (all figures in US Dollars) this year but the COVID-19 crisis impact on airport revenues will result in a reduction of $111.8 billion (or -65% compared to the pre-COVID-19 forecast)...read here
