The Covid-19 outbreak across the world has crippled the airline industry: jet fuel prices are plunging after more than 200,000 flights have been canceled for virus containment purposes; countless carriers have slashed guidance, and furloughed pilots as popular flight routes have been put on ice. This is, of course, on top of Boeing's dismal Boeing 737 MAX problems.
And now we’re learning that Europe's aerospace giant, Airbus, could cut A330 output amid waning demand for its most popular wide-body airliner. The decision whether to cut will come later this month.
Airbus said the reason for the cut comes as top clients could postpone orders, due mostly to the decline in global air travel.
The virus is causing many people to rethink air travel, with many airports across the resembling ghost towns, as we noted earlier this morning.
Meeting family member at Beijing airport. Intl arrivals empty. Am told inspectors in hazmat suits taking passengers off the plane two at a time, they’ve been parked at the arrival gate for an hour now. They are serious about not letting virus take hold in Beijing. pic.twitter.com/jQaA8JCUfB— David Rennie 任大伟 (@DSORennie) March 4, 2020
What to make of the virus and the economy? Here’s O’Hare airport in Chicago tonight at 7pm rush hour ... pic.twitter.com/OzYNWoWLxa— Evan Feigenbaum (@EvanFeigenbaum) March 3, 2020
Yesterday, we flew out of one of the busiest airports in the world. Basically empty. Our flight was delayed two hours because they needed to disinfect it before we could board. In Seattle, we went through temp checks, paperwork for the CDC, questions, and given packets to read pic.twitter.com/O0ez8tQTwh— Matthew Tyler (@MatthewTyler674) March 4, 2020