Airline growth hit as virus depletes Singapore Airshow

Asian airlines warned of “drastic” cuts in 2020 growth plans because of the coronavirus crisis, adding gloom to an already depleted Singapore Airshow as more firms dropped out. Asia’s top aerospace event is going ahead. But a purpose-built aero exhibition centre is pockmarked with empty spaces reserved for Chinese companies and others skipping the show because of the outbreak, whose death toll exceeds 900. Major suppliers Honeywell and Leonardo joined a list of 70 no-shows on Monday amid concerns related to the new coronavirus, which first erupted in China. Although riddled with hype and pre-packaged announcements, air shows are widely seen as a litmus test of confidence in the aerospace industry and bring together tens of thousands of people to network around cabin mock-ups and arms stalls. But few deals are expected at the Feb 11-16 Singapore event, where the epidemic has triggered new safety measures and cast a shadow over airline profits and demand for airplanes. Fresh evidence of the impact emerged on the eve of the show as UK-based consultancy Ascend by Cirium said the number of flights scheduled to operate to, from and within China had dropped by 24% compared with expectations before the crisis. Worse, the number of flights actually operated was down by half compared with normal seasonal levels as many airlines continued to slash flights below their newly adjusted schedules. That means Asian airlines are bracing for a turbulent 2020. <br/>