Airlines face worsening coronavirus impact, European bosses warn

[turbinetree]

Source: Reuters

BUSINESS NEWS MARCH 3, 2020 / 5:00 AM / UPDATED 14 MINUTES AGO

Laurence Frost, Sarah Young
5 MIN READ

BRUSSELS (Reuters) - The worst is still to come for the airline industry in terms of economic damage from the coronavirus outbreak, European bosses warned on Tuesday, but they predicted that travel demand could stabilise in the coming weeks.

Coronavirus has hit demand, forcing airlines to cancel flights and cut costs, and ask governments and regulators for help as they battle to get to grips with what they hope will be short-term, rather than long-term, disruption.

The heads of Europe’s biggest carriers discussed the impact of the epidemic at an annual industry conference. They included Ryanair (RYA.I) chief Michael O’Leary; Willie Walsh, boss of British Airways-owner IAG; and easyJet’s EZY.L Johan Lundgren.

“We have seen a drop in demand when you look particularly in the northern part of Italy, but that has also spilled over to the other parts of the network,” easyJet CEO Johan Lundgren said.

Italy has suffered the biggest outbreak of the illness in Europe.

Read more: https://www.reuters.com/article/us-europe-airlines/airlines-face-worsening-coronavirus-impact-european-bosses-warn-idUSKBN20Q13U?il=0

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what happens today will take a hit on the economy and stocks tomorrow.............................

[IronLionZion]

1. And when economy and stocks get hit, voters will want to change presidents

until we can get some real leadership to deal with this crisis

[pwb]

2. Earth will be better for it?

Times like this we need to stay put like it or not.

[OneCrazyDiamond]

4. The silver lining.

Less CO2.

[titaniumsalute]

3. I just decided not to buy tickets from the US to Ireland

Had some cheaper flights a few weeks ago..like $700 to Dublin. But I decided my family of three will pass for now. So it has definitely helped mold my vacation travel plans.