Latest News From Lexship

Would suggest all our sellers to plan their despatch, distribution and Supply Chain for their cross-border orders accordingly, keeping in mind the volatile developments related to COVID-19 virus. The following are the updates and repercussions for the ongoing situation across the world.

As off today, the scenario outcome is a 19% loss in Air traffic worldwide passenger revenues, which equates to $113 billion. The breakup across the world is as stated, many airlines are cutting capacity and taking emergency measures to reduce costs and stay afloat as they perform the vital task of linking the world’s economies.

Pls. Note: The actions by airlines to consolidate, prioritise, cancelations, non-availability of passenger and cargo flights is going to spiral into delayed delivery timelines along with non-availability of tracking updates. Many European Countries (UK, Germany, Italy, Spain, France), USA and Canada have initiated measures to even restrict internal movement within the country.

MARKET	IMPACT ON PASSENGER NUMBERS	IMPACT ON PASSENGER REVENUES
Australia, China, Japan, Malaysia, Singapore, South Korea, Thailand, Vietnam	-23%	-$49.7 billion
Rest of Asia Pacific	-9%	-$7.6 billion
Austria, France, Italy, Germany, Netherlands, Norway, Spain, Switzerland, Sweden, the United Kingdom	-24%	-$37.3 billion
Rest of Europe	-9%	-$6.6 billion
Bahrain, Iraq, Iran, Kuwait, Lebanon, the United Arab Emirates	-23%	-$4.9 billion
Rest of Middle East	-9%	-$2.3 billion
Canada and US	-10%	-$21.1 billion