Airways at centre of storm as coronavirus spreads

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Airways at centre of storm as coronavirus spreads

By Sarah Younger and James Davey


By Sarah Younger and James Davey

LONDON, Feb 28 (Reuters)European airways stepped up their warnings over the coronavirus outbreak on Friday, with British Airways-owner IAG and Finnair flagging a success to earnings and easyJet reporting a giant drop in demand into and out of a virus-affected area in Italy.

All three airways additionally joined rivals in saying price cuts to assist climate a storm of unknown severity and period.

A brand new coronavirus, which emerged late final yr in China, has despatched demand for journey tumbling in latest weeks because the outbreak has unfold all over the world, elevating fears of a pandemic that might plunge the worldwide financial system into recession.

The disaster is exacerbating deep rooted issues in an airline trade grappling with overcapacity, environmental pressures and the grounding of Boeing’s BA.N top-selling jet.

IAG, which additionally owns Iberia and Aer Lingus, normally provides an earnings forecast at the moment of yr,…



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