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Coronavirus: Crisis could reshape global airline industry
Weakest players may not survive, stronger ones set to benefit when recovery kicks in
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For an industry already struggling with unpredictable cost of fuel and criticisms from climate activists, the coronavirus is the cruellest blow.
Just as most of East Asia was going to bed at midnight last Thursday, the Geneva-based International Air Transport Association (Iata) announced its initial assessment of the impact of the outbreak on an industry that underpins global travel. According to Iata, whose membership counts almost 90 per of all global scheduled airlines, the coronavirus could cut passenger demand for Asia-Pacific carriers by 13 per cent this year.
