Headlines across the world commercial aviation news feeds this morning are focusing on the effect the coronavirus is having on airlines. Especially hard hit are Asian and European carriers.
For example, share prices for three major European carriers have fallen sharply. The drop is blamed on the spreading threat of the coronavirus.
Budget airlines appear to have taken the brunt of the decline including Easy Jet (-12%), Ryanair -10%), and Wizz Air (-8.5%). European stock markets are also down by a lesser amount, in the 3-4 % range.
Major carriers, such as Air France-KLM, Scandinavia, and Lufthansa, stocks all dropped 8 – 9%.
Italy appears to be taking the lead in controlling and preventing the spread of the virus, including suspending events, demonstrations, other public gatherings.