Aviation COVID-19 may put $29 billion revenue hole in airlines' revenue: IATA Updated : February 21, 2020 04:15 PM IST The trade group for global airlines said Thursday that the virus causing COVID-19 has the potential for causing a 13 percent decline in demand for Asian carriers this year. Global air traffic will be reduced by 4.7 percent for the year, marking the first overall decline in such demand since the financial crisis of 2008 and 2009. The virus, which began in China late last year, has sickened more than 75,000 people in China and some 2,000 people have died in China. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.