A drop in airline flights from China and Hong Kong due to the coronavirus is increasing demand for private jets as wealthy passengers try to get out, executives say, but travel bans and nervous crew have kept that from translating to more business.
The SARS-CoV-2 coronavirus outbreak, which has killed more than 1,300 people in China, has led premium Asian airlines like Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) and Singapore Airlines Ltd (SIAL.SI) to drastically cuts their flight schedules.
UK-based consultancy Ascend by Cirium said the number of flights scheduled to operate to, from and within China had dropped by 34% from Jan. 23 through Feb. 11.
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