The coronavirus pandemic could damage Japan's airline industry to the tune of ¥1 trillion ($9.3 billion) over the next 12 months, an estimate by a domestic aviation organization says.
The Scheduled Airlines Association of Japan forecasts carriers such as Japan Airlines and All Nippon Airways will lose over ¥400 billion in revenue in just the four months through May — much worse than the roughly ¥300 billion decline seen during the 2008 global financial crisis.
Passenger numbers have dropped sharply around the world in response to the pneumonia-causing virus.