2. Airlines
The airline industry will be the most affected industry by the pandemic, as international and even domestic flights are still restricted. The International Air Transport Association projected that the United States and Canadian airline industry could lose as much as $21.1 billion in revenue.
The industry around the world could see a scary decline in passenger revenue of nearly 20 percent under the extensive spread scenario, which would result in an estimated $113 billion in lost revenue. The CAPA-Centre for Aviation said most airlines in the world will likely go bankrupt by the end of May 2020.
United Airlines said it was bracing for a $1.5 billion revenue drop in March 2020 compared to March 2019. It also plans to cut capacity in half as for April and May. Other U.S. airlines are planning similar moves, as well as freezing hiring and asking employees to take unpaid leave.
