Pandemic to Dent Japan Feb.-May Flight Revenue by 500 B. Yen
Tokyo, April 3 (Jiji Press)--The coronavirus pandemic is forecast to push down the Japanese aviation industry's passenger flight revenue by 500 billion yen over the four months to May, an industry group said Friday.
The Scheduled Airlines Association of Japan previously expected a revenue loss of at least 400 billion yen among its member airlines amid a series of service reductions and suspensions prompted by the COVID-19 crisis.
The association also braces for a larger annual revenue loss than around one trillion yen as has been forecast so far.
But it did not give a new figure, citing difficulties making forecasts. The annual revenue loss may exceed 2 trillion yen.
Global travel demand has plunged since many countries around the world introduced stringent entry restrictions to prevent the virus from spreading further.
[Copyright The Jiji Press, Ltd.]