SriLankan Airlines crew
File picture of a SriLankan Airlines' 'mercy flight' to bring back students from Wuhan city of China. The global airline industry is staring at a possible $113 billion loss in combined revenues this year, Image Credit: Gulf News Archive

Singapore: Airlines will lose $63 billion to $113 billion in revenue for passenger traffic globally in 2020, depending on how the coronavirus spreads, International Air Transport Association (IATA) has said.

IATA had as recently as February 20 estimated the outbreak would cost carriers $29.3 billion in revenue.