COVID-19's impact estimate on passenger revenue of airlines by region 2020
Given that the novel coronavirus (COVID-19) outbreak intensifies, annual estimates for the aviation industry adjusted. As of April 2021, annual passenger revenue in the Asia Pacific region was forecasted to decline by approximately
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COVID-19 and the global aviation
Amid the coronavirus (COVID-19) pandemic, countries and organizations began to implement precautionary measures to contain the spread of COVID-19 for a public purpose. Some of the preventive methods included imposing lockdowns or encouraging no travel unless necessary by governments. Similarly, businesses adopted a multitude of strategies to cope with the challenge, such as avoiding business travels or minimizing them. When aggregated, these measures by the governments and businesses affected the aviation industry adversely. Starting from February 2020, the year-on-year revenue-passenger kilometer (RPK) change on international routes continued to decline, reaching roughly
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Financial performance of airlines amid COVID-19
Due to the nature of business activity involved, airline groups usually hold fewer liquidity accounts in their asset portfolios. This tendency is especially the case for traditional airlines, although somewhat less true for low-cost carriers (LCCs). While analyzing the 2019 financial balance sheet data of European airlines, Lufthansa Group held only Log in or register to access precise data.
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