The global airline industry earned US$75.6 billion from the sale of ‘a la carte’ ancillary services in 2019.
The government of Hainan is in talks to take control of the conglomerate.
Malaysia looks to locals and non-Chinese visitors in fulfilling tourist-arrivals target; China plans to take over indebted conglomerate HNA Group and sell off its core airline assets.
Major employers of foreign pilots, including China Southern and Hainan Airlines, have acted swiftly to cut their losses.
Cathay had cut 30% of flights before Monday’s announcement.
Even if the coronavirus outbreak ends quickly, the disruption in the supply chain will affect trade, tourism and confidence.
From 30 March, Shanghai services will be adjusted from seven return services per week to a return service every second day through to 30 April.
Europe anticipates seeing 7%-25% less Chinese visitor arrivals this year due to virus impact, OYO's annual loss has widened sixfold, and more for the day.
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