The International Air Transport Association (IATA) said that the novel Coronavirus could impact global air transport business of up to USD63 billion. On February 20, IATA had analysed the revenue losses at USD29.3 billion based on a scenario that would see the impact of COVID-19 largely confined to markets associated with China. According to IATA, the financial markets have reacted strongly. Airline share prices have fallen nearly 25 per cent since the outbreak began.