Covid-19: Global aviation could lose $250 bn; India may take $3.6 bn hit

As many countries in the world are closing their borders, the COVID-19 outbreak has acutely impacted the travel industry, especially airlines witnessing the most notable casualties.

According to the International Air Transport Association (IATA), airlines could lose a quarter of a trillion dollars in revenue this year as commercial flights come to a grinding halt.

Sydney-based CAPA Centre for Aviation estimates that many carriers will go bankrupt by the end of May if they cannot find support and further predicted that about half of all global airlines could go out of business before the end of the year.

Bloomberg, using