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Number of travelers nosedives amid COVID-19 outbreak
The arrivals hall at Incheon International Airport is quiet amid the global COVID-19 pandemic. / Yonhap
By Jun Ji-hye
By Jun Ji-hye
The number of people who entered and left Korea in March plunged 91.7 percent from a year earlier to 654,521 amid the COVID-19 pandemic that has forced the cancellation of almost all international passenger flights, according to the Ministry of Justice, Friday.
Among them, 145,024 Koreans left the country, down 93.8 percent from a year earlier; while 9,837 foreigners entered, down 94.2 percent year-on-year.
The number of people who entered and left from January to March stood at about 12.3 million, down 47.9 percent year-on-year.
Amid the rapid falling numbers, Incheon International Airport Corp. (IIAC), which operates the nation's main gateway, said Friday that it is expected to report its first annual loss in 17 years.
The company, which is operating under emergency management, forecast that it would suffer a 16.3 billion won ($13.2 million) net loss in 2020, a 102 percent drop in earnings from the previous year.
The firm projected this year's sales would fall 42 percent.
Incheon airport, which opened in 2001, has had a surplus since 2004 on the back of a consistent increase in air travel demand.
But the number of daily passengers using the airport has recently plunged 97.3 percent from a year earlier following the fast spread of the contagious disease.
The IIAC said the number of daily passengers was expected to stand at 14.26 million this year, down 79.8 percent from a year earlier, while the number of international passenger flights was expected to decline 74.6 percent.
The company noted that its financial situation would be seriously affected.
“The airport industry has been facing an unprecedented crisis due to the spread of COVID-19 around the world,” said IIAC President and CEO Koo Bon-hwan. “We will work to operate the airport more effectively under the current emergency mode and make efforts to improve management.”
The firm's financial troubles are also expected to set back various construction projects, including a 1.6 trillion won project to improve airport facilities.
The company said it may seek financial support from the government.