As workers limit travel and would-be vacationers stay home, airlines, hotels and cruise companies face bleak outlook
A flight between Shanghai and Chongqing now costs $4, about the price of a tall latte at Starbucks. Flights from New York to Miami were on offer for $51 last week, roughly the same as the cab fare from the airport to Manhattan. If Miami didn’t appeal, you could have taken off for Paris for $278. The problem for the airline industry is: will anyone take them?
As the coronavirus outbreak continues to hit stock markets hard, the travel industry is suffering its worst crisis in more than 18 years. Businesses have advised employees to avoid non-essential travel, conferences are cancelled, and would-be vacationers are avoiding foreign and domestic travel.
Related: Global stock markets post biggest falls since 2008 financial crisis
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