Coronavirus could cost airlines $113 billion in revenue in 2020: IATA

'In little over two months, the industry's prospects in much of the world have taken a dramatic turn for the worse', says IATA

The airline industry could lose up to $113 billion in revenue this year due to the impact of the new coronavirus, an industry body warned Thursday, as the epidemic spreads rapidly worldwide.

"The turn of events as a result of COVID-19 is almost without precedent," said Alexandre de Juniac, head of the International Air Transport Association (IATA), following a meeting in Singapore.

"In little over two months, the industry's prospects in much of the world have taken a dramatic turn for the worse.