Flight cuts, unpaid leave and hiring freezes: Airlines race to limit the impact as coronavirus saps travel demand.
Globally, airlines could lose up to $113 billion in revenue this year, the most since the financial crisis, if the disease continues to spread, the International Air Transport Association, an industry trade group, forecast on Thursday.
"We are closely monitoring booking trends to assess whether additional capacity reductions will be required," wrote JetBlue's president, Joanna Geraghty. For its part, Southwest warned Thursday that it logged a "significant decline" in customer demand in the last few days and an increase in cancellations." The low-cost carrier said revenue per available seat mile, a key aviation industry measure of how much money airlines make for each seat they fly per mile, could range from a 2% decline to a 1% increase on the year this quarter, compared with a previous estimate of a 3.5% to 5.5% increase.
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