Some Chinese cities have begun to restrict arrivals from overseas, signaling that the epidemic’s momentum has shifted outside of China.
Juneyao Airlines will be indefinitely postponing the launch of new European routes; AI tech firm raised $42 million in funding.
Air France-KLM warned of a €150-million to €200-million hit to earnings by April; Asia Pacific airlines could lose $27.8 billion due to outbreak.
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.
Even if the coronavirus outbreak ends quickly, the disruption in the supply chain will affect trade, tourism and confidence.
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.
The coronavirus impact may last until the second quarter of 2021, industries are feeling the pinch beyond China, with the full impact remains to be seen.
Travel volume during this year’s seven-day Lunar New Year period plummeted nearly 63.9% to just 152 million.