Air France-KLM warned of a €150-million to €200-million hit to earnings by April; Asia Pacific airlines could lose $27.8 billion due to outbreak.
China may see losses of USD 430 billion by the coronavirus disruption on travel for 2020; It plans cash injections and mergers to bail out aviation.
The global airline industry earned US$75.6 billion from the sale of ‘a la carte’ ancillary services in 2019.
The government of Hainan is in talks to take control of the conglomerate.
Malaysia looks to locals and non-Chinese visitors in fulfilling tourist-arrivals target; China plans to take over indebted conglomerate HNA Group and sell off its core airline assets.
Major employers of foreign pilots, including China Southern and Hainan Airlines, have acted swiftly to cut their losses.
Cathay had cut 30% of flights before Monday’s announcement.
Even if the coronavirus outbreak ends quickly, the disruption in the supply chain will affect trade, tourism and confidence.
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