Home > > Beijing quarantines inbound travelers; airlines face bankruptcy | Daily Brief

Beijing quarantines inbound travelers; airlines face bankruptcy | Daily Brief

03/18/2020| 12:45:03 AM| ChinaTravelNews

Chinese airlines including Air China and China Southern are to reduce international flights in response to the coronavirus pandemic; CAPA said most global airlines will be bankrupt by the end of May.

Beijing quarantines all inbound travelers  

>> Beijing has required that all inbound flights to the Beijing Capital International Airport from overseas as well as Hong Kong, Macao and Taiwan regions should land at the D-zone of Terminal 3 and all the people entering Beijing from these flights should fill in health declaration form, starting March 16, the capital city's Foreign Affairs Office announced through a WeChat post

All people entering the capital from overseas, including those entering Beijing from other point of entry and exit should be put on 14-day quarantine at designated facilities and expenses incurred will be paid by travelers themselves.

Chinese airlines cut international flights

>> Chinese airlines including Air China, China Southern Airlines and China Eastern Airlines are planning to reduce international flights in response to the coronavirus pandemic, the Global Times reported on Monday, citing unidentified sources. 

Data from Cirium showed the number of flights to, from and within China canceled or removed from schedules totaled 506,662 from January 1 through March 10. Of those, 101,906 were international flights.

Airfares soar 174% as Chinese rush to escape virus in Europe

>> Data from Qunar.com Inc. show the average price of a one-way economy ticket from Europe to China shot up 174% in the week through Sunday, from 5,492 yuan to 15,021 yuan. Those from the U.S. rose 137%.

The surging fares mark a reversal from few weeks ago, when long-haul flights to and from China would fetch a fraction of their typical prices, underscoring how the epicenter of the pandemic has shifted.

Cathay Pacific loses HK$2B in February 

>> Cathay Pacific said it made a “significant” unaudited loss of more than HK$2 billion ($257 million) in February alone because of widespread disruption from the coronavirus, which has left the global aviation industry reeling. Cathay and Cathay Dragon carried 1.01 million passengers in February and passenger load factor fell by 28.6 percentage points to 53.1%. 

Last week, Cathay reported a 28% drop in 2019 net income to HK$1.69 billion as protests in Hong Kong hurt demand. 

US airlines seek aid far exceeding post-9 11

>> U.S. carriers asked the federal government for more than $50 billion in rescue aid. It is a staggering request for an industry that has chalked up tens of billions in profits over the past decade. It would far exceed the bailout that airlines got after the terror attacks of September 2001.

Airlines face bankruptcy in two months

>> Most global airlines will be bankrupt by the end of May, and the global aviation industry will face "catastrophe" without "coordinated government and industry action," according to analysis from the CAPA Centre for Aviation.

OAG analyst John Grant said that globally, there are 4.5 million fewer seats this week compared with last week, and by next week. 

Tripadvisor shareholder gets $325M investment

>> In a move that stabilizes Tripadvisor’s ownership structure, private equity firm Certares Management purchased $325 million of preferred stock in Liberty Tripadvisor, and becomes a strategic investor. 

The move doesn’t have a direct impact on Tripadvisor, which had $319 in cash and equivalents, no debt, and the capacity to borrow at the end of 2019. 

OYO courts virus-stricken hotels with cash

>> OYO Hotels, one of the largest startups in SoftBank's portfolio, is promising cash to hotels in Japan that join its platform as bookings plunge in the coronavirus-stricken country. The Indian startup, looking to get more hotels into its network and expand its reach, will pay new members a lump sum equal to a proportion of their past year’s revenue, the company said.

TAGS: Daily Brief | airlines | airfares
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