Asia Pacific and Middle East airports could see revenues drop by $36.4 billion
The two regions are both predicted to lose two billion passengers, which is 400 million more passengers than previously forecasted.
Airports Council International (ACI) World’s updated economic impact assessment has forecasted a year-end revenue loss of 59 per cent for Asia Pacific airports and 53 per cent for Middle East airports.
Combined, airports in these regions are forecasted to lose US$36.4 billion for the year of 2020. This means 10 per cent more losses than forecasted one month ago.
“We are observing moderate signs of recovery in China’s domestic traffic, which is encouraging. But we are entering the most critical stage of the year for our industry. We expect the second quarter of the year to be substantially more challenging than the first, especially in countries with predominantly international traffic profiles. Rebuilding people’s confidence to travel again will take time,” said Stefano Baronci, Director General, ACI Asia-Pacific.