The International Civil Aviation Organization (ICAO) has issued its first complete 2020 air passenger forecast today, which reveals that, in comparison to 2019, airlines may see 1.5 billion fewer international air travelers in 2020.
Due to the extended travel bans amid the coronavirus pandemic, the forecast also states that international seat capacity could drop by nearly three-quarters, which will result in a loss of $273 billion.
"In today's updated analysis, the analytical timeframe was extended for another three months to December 2020, and more reliable airfare data was used to calculate revenue reduction," said ICAO Secretary General Dr. Fang Liu.
The ICAO has been providing updated analyses on the economic impact of COVID-19 on air transport since early February 2020 through the COVID-19 information portal. The portal also provides guidance to air transport planners, regulators and operators as they plan their post-COVID recovery and the ICAO's efforts in the international coronavirus response.
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