$63-116 billion in revenue lost in one industry, maybe

“The International Air Transport Association (IATA) updated its analysis of the financial impact of the novel coronavirus (COVID-19) public health emergency on the global air transport industry. IATA now sees 2020 global revenue losses for the passenger business of between $63 billion (in a scenario where COVID-19 is contained in current markets with over 100 cases as of 2 March) and $113 billion (in a scenario with a broader spreading of COVID-19). No estimates are yet available for the impact on cargo operations. IATA’s previous analysis (issued on 20 February 2020) put lost revenues at $29.3 billion based on a scenario that would see the impact of COVID-19 largely confined to markets associated with China. Since that time, the virus has spread to over 80 countries and forward bookings have been severely impacted on routes beyond China.”

Yawn. Gosh, the hysteria sounds like Russia! Ukraine! – and so forth, again and again. The flu kills 450,000 or so annually and we’re supposed to be hysterical about this new thing that has killed 3000? We’re reminded of writing a draft of a novel in the mid 80’s with classmate E.J. Dionne. The idea was that terrorism events were orchestrated by clever bankers who knew which stocks to short at 12:01 on the terror clock. Hmmm, not a bad idea… Bonus Fun Bits: (a) Reiner and Brooks still having fun. (b) Cashill back to discovering stuff.

2 Responses to “$63-116 billion in revenue lost in one industry, maybe”

  1. feeblemind Says:

    Did my previous comment disappear into the ether or did I forget to hit the submit button?

  2. feeblemind Says:

    Nope. They disappeared into the ether.

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