Airlines feel the corona virus pain

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The aviation sector is hit hard by the problems surrounding the new corona virus. Earlier Air France-KLM came with a profit warning for the current quarter, now also easyJet and British Airways mother IAG, and Finnair warn against negative consequences.

The British low coster easyJet, one of the largest users of Schiphol, is struggling with a declining demand for air travel to northern Italy. Consumers’ travel drive is also lower on other routes. As a result, the company will remove a number of flights from the schedule. According to the company, it is not yet possible to say what the impact of the virus will be on financial performance.

IAG, which is also the company behind Iberia, Aer Lingus, among others, warned of the financial consequences this year. Previously, flights to China were canceled. There are now cancellations of flights to Italy. IAG did not comment on the impact on the results. Finnair, Finnish, lowered its expectations and is forced to cut costs.

Air France-KLM said at the publication of the annual figures that the problems surrounding the virus would take a bite out of the operational profit in the first quarter of this year from 150 million to 200 million euros. The belt is also tightened at KLM.

About the author

Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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