Asia-Pacific airlines could lose $27.8 bn to coronavirus: IATA

Airlines operating in the Asia-Pacific region stand to lose a combined $27.8 billion of revenue this year in the ongoing coronavirus crisis, the International Air Transport Association said on Thursday.

The estimate is based on projections of a 13-percent full-year decline in passenger demand, mostly in China, the trade body said.

"This will be a very tough year for airlines," IATA CEO Alexandre de Juniac said in a statement. "Stopping the spread of the virus is the top priority."