More time is needed to see if the COVID-19 outbreak will be a negative effect on aircraft-backed securities transactions, according to S&P Global Ratings.
The level of Chinese airline operations has more or less stabilized near one-third of the original schedule, at least for a while, amid the drop in demand caused by the Wuhan coronavirus outbreak.
The major Asian airline industry group says some governments in the region have overreacted by imposing sweeping travel restrictions due to the coronavirus outbreak that began in China.
Despite economic uncertainty, trade tensions and headwinds compounded by the Coronavirus outbreak, the Asia-Pacific region—and China in particular—remains pivotal to Boeing’s fortunes and the best hope for offsetting the commercial slowdown, a company executive said.
The Chinese Lunar New Year is traditionally one of the strongest periods for Chinese airlines, where millions of Chinese citizens travel across the country to return home for the festive season.
As the Wuhan coronavirus spreads throughout the Asia-Pacific region, some international manufacturers are pulling out of the Singapore Airshow, which runs from Feb. 11-16.
The United Arab Emirates (UAE) is suspending all flights to and from China, with the exception of Beijing, from Feb. 5 until further notice, the General Civil Aviation Authority (GCAA) said in a statement published by the UAE’s WAM official news agency.
The Civil Aviation Administration of China (CAAC) is requiring Chinese airlines trimming services amid the Wuhan coronavirus outbreak to avoid general severance of the air connection to each foreign country now served.
Cathay Pacific projects that its mainland China network will be almost completely suspended as a result of the novel coronavirus outbreak, dealing another blow to the carrier before it has recovered from a severe demand drop in 2019.
By Chen Chuanren, Bradley Perrett, Adrian Schofield, Polina Montag-Girmes, Kurt Hofmann, Helen Massy-Beresford, Ben Goldstein
Multiple countries including Singapore and the Philippines are denying entry to travelers who have recently visited China in a bid to limit the spread of the novel coronavirus outbreak after the World Health Organization declared it an international public health emergency.
The Singapore government has enhanced efforts to prevent the spread of the Wuhan coronavirus by preventing all passengers who have traveled to China in the last two weeks from entering the country, regardless of nationality.
The aviation industry must continue to learn from past lessons and work together to curb the spread of the Wuhan coronavirus, Association of Asia Pacific Airlines (AAPA) director general Andrew Herdman said as many airlines move to suspend flights to Chinese cities.
By Adrian Schofield, Chen Chuanren, Polina Montag-Girmes, Helen Massy-Beresford, Ben Goldstein
An increasing number of airlines across the world are making major operational changes in response to the effects of the rapidly spreading novel coronavirus (2019-nCoV) outbreak that began in Wuhan, China.
