CORONA VIRUS versus AVIATION ! How airlines react on it! Explained by CAPTAIN JOE
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Dear friends and followers, welcome back to my channel!
Today we'll be looking at the Corona Virus and it's effect on the aviation industry!
It's been the worst time for aviation since the SARS outbreak in 2003 and the attacks on the world trade center in 2001.
The most obvious and immediate public reaction when there is a global emergency such as this, is to stop or postpone any planes to fly to the country or city of origin, in this case Wuhan, China. The demand for flights to the country fell, forcing airlines worldwide to reduce the number of flights to and from China. With this, along with the likes of social media and news outlets further adding fuel to the fire when it comes to people worrying, stock markets in the Asian continent dropped with shares of China’s three largest airlines - Air China, China Eastern Airlines and China Southern Airlines all showing similar levels of decline.
At the start of February alone the Chinese financial market fell by 8% as fears grow about the financial impact that this virus could continue to have. Since the outbreak, these issues have been ever present with more and more airlines even suspending all travel to and from the country.
Watch the video for more information!
Thank you very much for your time! I hope you enjoy this video!
Wishing you all the best!
Your "Captain" Joe
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