Virus seen pushing some struggling airlines out of business
The fast-spreading coronavirus could spell the end for the weakest airlines as travel demand dries up in and out of China. The outbreak has claimed 170 lives. Total infections have soared past 7,700 in China, surpassing the country’s official number from the 2003 SARS epidemic. SARS cost the global economy an estimated US$40b in just 6 months and led to a 45% plunge in traffic for Asia-Pacific carriers in April that year. The novel coronavirus hasn’t killed anyone outside China, but infections are spreading faster than SARS and that’s triggering a raft of flight cancellations to and from one of the world’s fastest-growing markets for air travel. For Asia-Pacific carriers, already buffeted by US-China trade tensions and protests in Hong Kong, the new virus is potentially an existential threat. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-01-31/general/virus-seen-pushing-some-struggling-airlines-out-of-business
https://portal.staralliance.com/cms/logo.png
Virus seen pushing some struggling airlines out of business
The fast-spreading coronavirus could spell the end for the weakest airlines as travel demand dries up in and out of China. The outbreak has claimed 170 lives. Total infections have soared past 7,700 in China, surpassing the country’s official number from the 2003 SARS epidemic. SARS cost the global economy an estimated US$40b in just 6 months and led to a 45% plunge in traffic for Asia-Pacific carriers in April that year. The novel coronavirus hasn’t killed anyone outside China, but infections are spreading faster than SARS and that’s triggering a raft of flight cancellations to and from one of the world’s fastest-growing markets for air travel. For Asia-Pacific carriers, already buffeted by US-China trade tensions and protests in Hong Kong, the new virus is potentially an existential threat. <br/>
