ACI Forecasts Revenue Losses of $97 Billion for Airports in 2020
Air Transport

ACI Forecasts Revenue Losses of $97 Billion for Airports in 2020

Sees annual reduction of 4.6 billion passengers by end of 2020

TLME News Service

Airports Council International (ACI) World has released updated forecast of prolonged – and more widespread – impacts and effects of the COVID-19 pandemic on traffic and revenue for airports across all regions.

ACI World now estimates a reduction of more than two billion passengers at the global level in the second quarter of 2020 and more than 4.6 billion passengers for all of 2020.

The estimated decline in total airport revenues on a global scale is estimated to be $39.2 billion in the second quarter and more than $97 billion for 2020.

Earlier, ACI World and the International Air Transport Association (IATA) came together to call for urgent tax relief and direct financial assistance that is to the benefit of the entire aviation ecosystem.

ACI World Director General Angela Gittens said: “As traffic and revenue have collapsed, the airport industry has taken all possible measures to preserve stability, but the challenge remains that a significant portion of airport costs are fixed.

“Jobs need to be protected and airports given financial support so people can rapidly return to work while operations can be scaled up to meet demand as the industry restarts.”

“Financial relief and assistance is urgently needed but it is crucial for the prospects of a balanced recovery that any assistance benefits the entire aviation ecosystem and does not target once sector over other.”

Transport and Logistics ME