Airline stocks fell more than the broader market on concerns about the spread of the coronavirus in South Korea and Italy.
More than 200,000 flights to, from and within China have already been cancelled because of the virus, according to aviation consulting firm Cirium, and more disruptions are possible if the virus continues to spread.fall for the first time since 2009
and cost airlines some $29 billion — mostly in the Asia-Pacific region — in revenue, the International Air Transport Association warned last week. All U.S. carriers have already suspended service to mainland China and Hong Kong because of the outbreak of COVID-19. New cases in South Korea, Iran, and Italy have added to concerns about the rapid spread of the virus, as airlines look ahead to the busy travel periods in the second and third quarters.
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