Coronavirus May Slash $29.3B From Airlines' 2020 Revenues
Zacks Investment Research | Feb 20, 2020 08:03PM ET
The airline industry, already reeling under the effects of the prolonged Boeing (NYSE:BA) 737 MAX groundings, is now bearing the brunt of massive international capacity reductions from China, following the novel Coronavirus outbreak. The deadly virus claimed the lives of more than 2,000 people and infected in excess of 75,000 across the globe. Due to this health crisis, international capacity from China has been reduced by 270,000 seats a week, reflecting an overall decline of 80% since Jan 20, per the latest report from air transport data consultancy OAG.
Among the Chinese airlines, China Eastern Airlines and China Southern (NYSE:SO) Airlines are the Zacks Investment Research
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