IATA estimates global loss of $314 billion due to COVID-19

An international aviation group now supposes global damages due to the COVID-19 to top $314 billion which is higher than previous approximations. 

According to the details, the estimation from the International Air Transport Association says travel internationally has fallen by 80%, much deeper than its earlier guesses. 

The sources of English daily said that the industry is “virtually grounded outside [the] U.S.”  US government stimulus measures require airlines to continue a minimal level of domestic service. 

Be clear that IATA previously estimated $252 billion in universal harms.  

According to IATA Economist Brian Pearce, The good news for the industry is that when travel restrictions are lifted is there’s a large amount of pent up demand.