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|
Few News References:
1. Trump suspends travel from Europe to US in coronavirus crisis. Mar 12, 2020, 08.01 AM (IST) Washington, District of Columbia, United States
2. Italy unveils $28 billion coronavirus rescue plan. Mar 11, 2020, 11.34 PM (IST) Rome
3. COVID-19: Thailand restricts visitor visas to limit virus spread. Mar 11, 2020, 02.47 PM (IST) Bangkok
Thanking you and assuring you of our best services at all times, will keep you posted with further developments.