HH Coronavirus And Its Impact On The Global Aviation Industry

coronavirus aviation industry top 10 most punctual airlines and airports for 2020

skeeze / Pixabay

China was among the top three aviation markets a month ago. However, following the coronavirus outbreak, the virus-plagued country is now in 16th place in terms of air traffic. This was bound to happen, and many expected it, considering that the deadly virus has traveled to about 25 countries by air. Thus, many would agree that the aviation industry will be hit the hardest by the coronavirus.

Impact of coronavirus on the aviation industry

The coronavirus has not just affected the aviation industry in China, but global players as well. Until last month, flights in and out of China were about 5.2% of total global capacity. This week, the number has dropped to just 1.8%. These numbers might appear small, but according to OAG, which tracks global airline schedules, this drop is unprecedented in terms of volume.

To limit the spread of the virus, foreign countries and governments have been canceling flights in and out of China. In just a few weeks, the number of weekly scheduled seats dropped by 1.4 million. Data from air travel intelligence firm OAG shows that over 25,000 flights were canceled in the first week of February.

Overall, about 30 airlines have canceled their flights to China. Hong Kong-based Cathay Pacific has reduced 90% of its flights to mainland China. American Airlines and United Airlines also announced that they were suspending all flights to Hong Kong through Feb. 20. In 2019, Hong Kong accounted for 1% of total capacity for American, 2% for United and 3% for Air Canada, according to Cowen.

(Click on image to enlarge)

Coronavirus aviation industry

Country-wise, Japan now has about 200,000 fewer direct flight seats from China. This represents about 60% of the total air traffic between Japan and China or about 15% of Japan’s total international flight capacity. Between the U.S. and China, the volume of air traffic has dropped 86%, amounting to about 73,000 canceled seats. However, this is less than 3% of the U.S.’s total international traffic.

1 2 3
View single page >> |

Disclaimer: This article is NOT an investment recommendation, Please see our disclaimer - Get our 10 free ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.