Global airlines on high alert as virus outbreak spreads

The biggest concern is a sharp drop in travel demand if the virus becomes a pandemic. During the height of the SARS outbreak in April 2003, passenger demand in Asia plunged 45%, according to the International Air Transport Association (IATA). Cathay cut nearly 40% of its flights and reported a financial loss, as did Singapore Airlines Ltd, Japan Airlines Co Ltd and ANA Holdings Inc.

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