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Coronavirus may slash $29 billion from airlines' revenue


Added 02-21-20 05:04:02am EST - “Global air traffic will be reduced by 4.7 percent for the year” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Coronavirus may slash $29 billion from airlines' revenue”. Below is an excerpt from the article.

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Former undersecretary of state for economic growth Bob Hormats talks about all three major indices only seeing small pullbacks from coronavirus fears.

The outbreak of the coronavirus threatens to erase $29 billion of this year's revenue for global airlines, mostly for Chinese carriers, as travel crashes worldwide, according to the International Air Transport Association.

The trade group for global airlines said Thursday that the virus causing COVID-19 has the potential for causing a 13 percent decline in demand for Asian carriers this year.

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