Today's announcement from QAN provides an indications on travel impacts:
https://www.asx.com.au/asxpdf/20200310/pdf/44fwgd46nx86ch.pdf
An overall reduction of 23% in international travel capacity. About 30% to Asia.
Apply this to your thinking on customer refunds. My guess would be to apply those ratios to FLTs TTV. So it's not a total wipeout, even if you assume a 40% reduction.
I know FLT do more than flights, so this might not directly correlate. But it's the best measure I've found.
And on second order effects. Many companies are asking staff to take paid and unpaid leave. Is everyone just going to stay home and self isolate? I can't see that happening... some spillover effects to soak up cheap holidays feels likely.
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