New virus hits Mideast airlines with $100M loss, group says.
FILE - In this April 20, 2017 file photo, Emirates planes are parked at the Dubai International Airport in Dubai, United Arab Emirates. Major disruptions due to the new coronavirus have already caused the equivalent of a roughly $100 million loss to airline carriers in the Middle East region, which serves as a connection hub for east-west travel, the industry's main trade association said on Monday, March 2, 2020.
The Persian Gulf city of Dubai, which is home to the world’s busiest airport for international travel, relies heavily on tourism and aviation. The Gulf is a major transit hub for passengers connecting from Europe to Asia. The United Arab Emirates has cancelled all flights to Iran, as have other Gulf countries. It has also limited flights in China to just Beijing to reduce the spread of the virus., said a projected 4.
Even before the virus emerged, the big Gulf carriers had already posted significantly lower earnings due to higher fuel costs, a strengthened U.S. dollar, and lower airfreight and travel demand.
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