‘The impact of the COVID-19 pandemic on global air travel has been unprecedented. The UN agency, the International Civil Aviation Organization (ICAO), estimates that for the first quarter of 2020, there has been a reduction of 612 million passengers compared with 2019, with domestic and international air traffic expected to decrease by 50% for 2020 as a whole, as compared to 2019 figures. The global trade body, the International Air Transport Association (IATA), estimates US$419bn worth of lost revenue for airlines, representing roughly a 50% reduction in revenues when compared with 2019.’
New Law Journal, 24th June 2020
Source: www.newlawjournal.co.uk
