The coronavirus epidemic could cost commercial airlines up to $113 billion (¥12 trillion) in revenue this year, an industry body warned Thursday, more than three times a projection it made just two weeks ago as the virus continues to spread around the world.
The warning from the International Air Transport Association came as British regional carrier Flybe became the first big casualty of the slump in travel caused by the crisis.
Norwegian Air also scrapped its profit forecast for 2020, while U.S. budget carrier Southwest predicted a $200 million to $300 million hit to first-quarter operating revenues.
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