Impact of coronavirus on the global aviation industry

Coronavirus Impact

The outbreak of coronavirus originating from Wuhan in China reminds global airlines of SARS pandemic in April 2003. SARS had a damaging impact on the financials of global airlines, who had reported heavy losses. As per the International Air Transport Association (IATA), at the peak of SARS outbreak, the passenger demand had plunged by 45%! The impact was so severe that global carriers like Cathay had to cut down their flight by 40% and had reported major financial losses. Other global airlines like Singapore Airlines, ANA Holdings Inc. and Japan…

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