Nepal’s aviation industry could collapse without foreign tourists
The current reduced fares ensure most flights are occupied and domestic terminals are busy as ever. But airline operators tell us that without international tourists, they can never hope to recover their losses published on 2021-01-23 09:01:00
The Covid-19 pandemic pummeled the global airline industry. Many airline companies had to cut costs, downsize, even sell off properties. Some airlines collapsed and had to declare bankruptcy, including the famous Virgin Australia.
According to a report published on the International Civil Aviation Organization (ICAO) website, the year 2020 (January-December) saw 51 percent reduction in the number of seats offered by airlines, as 2,851 million potential passengers could not travel, resulting in an approximate $391 billion loss in operating revenues.