The credit rating agency S&P Global estimates that airlines will see their number of passengers transported reduced by 30% due to the impact of the outbreak of the Covid-19 coronavirus, as explained in a report published on Tuesday.
“Our current baseline scenario for global air passengers in 2020 assumes a decrease of between 20% and 30% compared to 2019, while full recovery will not be reached until 2022 or 2023,” said S&P analyst Julyana. Yokota.
The risk rating agency has taken into account the “rapid expansion” of the virus to 125 countries and the “severity” of the measures adopted to contain the outbreak. Several European countries have restricted travel, while the United States has directly banned travel to the 27 states of the European Union.
The consequences of these measures on the ratings of each airport will depend on “various factors”, such as the speed, scale and duration of the crisis, as well as the measures adopted to mitigate passenger falls and manage fixed costs.
“Over the next few weeks, we will review our airport ratings to reflect our updated vision on this uncertain and rapidly evolving situation,” Yokota added.
