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Airlines lose $652 million over coronavirus spread

News Summed Up 2020-02-14 05:30:00

As the coronavirus outbreak continues to ravage mainland China with spread across the globe, losses of the air transport industry has been estimated to reach $652 million already. The loss, according to OAG Aviation worldwide, was on account of cancelled flights, route withdrawals and shutdowns by airlines to prevent the spread of the deadly disease. John Grant, an analyst at OAG Aviation Worldwide, said the coronavirus outbreak has already cut 1.4 million seats from China’s weekly international capacity and that it has cost airlines servicing the region $652 million in lost revenue. A number of airlines around the world have cancelled flights to and from Hong Kong in the wake of the deadly coronavirus outbreak that originated in the Chinese city of Wuhan. The World Health Organisation (WHO) has officially named the deadly virus as “Covid-19”.