MARCH 6, 2020: Concerns about the coronavirus are causing millions to rethink their travel plans and may cost the airline industry at least $63 billion in revenue. A report from the International Air Transport Association (IATA) also estimated that if the virus spreads more broadly, the airline industry could lose as much as $113 billion.[1] ([link removed])
Those figures represent an 11% to 19% decline of total airline revenue.[1] ([link removed])
Some of the losses will be offset because oil ([link removed]) prices have fallen since the coronavirus outbreak. The cost of fuel is a major airline expense. Still, the IATA report notes that “airline share prices have fallen nearly 25% since the outbreak began.” That’s a far bigger impact than "the decline that occurred at a similar point during the SARS crisis of 2003."[1] ([link removed])
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_Scott Rasmussen is an editor-at-large for Ballotpedia, the Encyclopedia of American Politics. He is a senior fellow for the study of self-governance at the King’s College in New York. His most recent book, ** Politics Has Failed: America Will Not ([link removed])
** , ([link removed])
was published by the Sutherland Institute in August 2018._
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