Royal Air Maroc Faces $728 Million Loss, 4.9 Million Fewer Passengers Due to COVID-19

According to the latest estimates from the International Air Transport Association (IATA), the disruptions attributable to the Covid-19 pandemic for the company could result in losses of around 4.9 million passengers. As for the shortfall, it is estimated at $728 million.

In addition, air traffic disruptions could pose risks to more than 225,000 jobs in the country, say the executives of the institution whose headquarters are in Montreal.

According to IATA, this situation results from a sharp drop in international bookings and a sharp increase in requests for airline ticket refunds, which have reached a rate of 75% between February 1 and March 11, 2020, compared to the same period in 2019.

Faced with this unprecedented crisis, IATA is calling on states to support their national companies in order to save the air transport sector. Its experts estimate that global airlines need emergency aid of around $200 billion.