IATA: Maldives airline industry to suffer a loss of USD 507 million

PUBLISHED April 13, 2020

The International Aviation Transport Association (IATA) speculates that Maldives airline industry will undergo a heavy loss of USD 507 million in 2020 due to the coronavirus (COVID-19) crisis.

Maldives airline industry is estimated to be hit with this huge economic loss with the halt of domestic and international flight operations worldwide except a select few flights.

Prior to the global pandemic, COVID-19, IATA reported Maldives airline industry to bring in approximately USD 1.4 billion carrying over 2.1 million passengers in the year 2020. IATA currently forecasts a drop of 40 percent in arrivals to the Maldives with 2,124,000 fewer passengers.

Local travel and tourism media, Maldives Insider reports that there is a risk of losing over 28,000 airline industry related jobs with the economic damage sustained by the expected loss of USD 507 million.

Local carriers including Manta Air, Trans Maldivian Airways, and Villa Groups Flyme has ceased all international operations while national carrier Maldivian has commenced cargo operations and repatriation flights to various regions in Asia Pacific. 


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