RustyChain

You don't get sick from getting germs on your fingers. You get sick when the germs on your fingers make it into your mouth, nose or eyes.

domino

if by a matter of months you mean 12-18, then yes. I agree with you.

AirBear

Southwest Airlines CEO warns drop-off in domestic travel over coronavirus has '9/11-like feel'

https://theweek.com/speedreads/90028...s-911like-feelMounting concern over the new coronavirus outbreak has caused school closures and movie premiere pushbacks, and now the crisis' effect on the aviation industry is drawing comparisons to 9/11.

Southwest Airlines CEO Gary Kelly told CNBC on Thursday that the company has lost several hundred million dollars in a week's time thanks to a decline in bookings amid increasing fears over COVID-19. Kelly added that the drop-off was "noticeable" and "precipitous" and has continued declining on a daily basis.

When prompted by CNBC's Phil LeBeau over whether the drop was reminiscent of former dips in demand spurred by the 2003 SARS outbreak or the events of Sept. 11, 2001, Kelly said the new coronavirus outbreak was more like the latter.

"It has a 9/11-like feel," Kelly said.

He explained that post-9/11 travel fallout was motivated by "fear" rather than being economically driven, saying fear is "really what's manifested this time" with the new coronavirus outbreak.

Kelly told LeBeau he thought the dip in bookings was an "overreaction" but that Southwest is financially prepared to handle the fallout.

The outbreak's effect has been felt heavily in the U.S. stock market, which has rotated between sinking and soaring over the last week, and it has caused at least 11 U.S. deaths and four states to declare emergencies. Marianne Dodson

domino

for sure. 67% plunge in future bookings. Wait till summer when planes are empty. Won’t be long getting that wake up call everyone is dreading

AirBear

Airlines could lose up to $113 billion in passenger revenue due to coronavirus, IATA says

KEY POINTS

• The $113 billion estimate is for a scenario with a broader spreading of the disease.
• This fall would translate to 11%-19% of worldwide passenger revenue loss.

Airlines could lose $63 billion to $113 billion in revenue for passenger traffic globally in 2020, depending on how the coronavirus spreads, International Air Transport Association (IATA) said on Thursday.

The last time the industry faced a revenue shock of this magnitude was in 2009 during the global financial crisis, IATA Chief Economist Brian Pearce said at a media briefing in Singapore.

The $63 billion figure is for a scenario where the disease is contained in current markets with over 100 cases as of March 2, following a v-shaped recovery, IATA said.

The $113 billion estimate is for a scenario with a broader spreading of the disease.

This fall would translate to 11%-19% of worldwide passenger revenue loss.

IATA on Feb. 20 estimated the outbreak would cost carriers $29.3 billion in revenue, if the outbreak was largely confined to markets associated with China.

MUhuskerfan32

Sounds like a CEO who has their hand out, waiting for a bailout

The Duke

EXACTLY! Wasted all their Billions of $$ in profit on stock buybacks and now beg like dogs for the taxpayer to bail them out (meeting w/ Trump).

Name User

Where did you find that figure and was it systemwide or specific to a geographic area? What type of airline (ie legacy or LCC)?

Makes sense Lufthansa parked half their fleet if that is consistent worldwide.

IAFDOF

I’m not gonna stop picking my nose. This is America.

nkbux

God Bless you and God Bless Murica’

sincerely,

a fellow potato digger