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Coronavirus threantens to push Asian airlines into bankruptcy

Since the emergence of the coronavirus, government-imposed containment measures in Wuhan and practically all local municipalities throughout China have brought life to a standstill. The Chinese New Year holiday has been extended and most people, including me, are stuck indoors. Many residential complexes and jurisdictions in China and elsewhere are imposing restrictions on travel both in and out -- and are quarantining some entrants.

China plans to take over Hainan Airlines Group: report

China is reportedly planning to take over Hainan-based Hainan Airlines Group(HNA Group) and sell off its airline assets, Bloomberg reports citing people familiar with the matter.
The government of Hainan, where the group is headquatered, is in talks to take control of the conglomerate after the recent coronavirus outbreak in mainland China hurt its ability to meet financial obligations, according to the report.

Foreign Pilots Placed On Unpaid Leave in China

News has emerged that China Southern Airlines, Hainan Airlines, as well as a number of other mainland Chinese carriers have been placing foreign pilots on indefinite unpaid leave. This is according to multiple sources and a memo obtained by the South China Morning Post. The action is in response to the suspension of hundreds of flights out of China as a result of the coronavirus outbreak.

“All foreign pilots, including those who have applied for leave exemption and those who have not, shall start a non-fixed term leave without pay as soon as possible,” – China Southern memo

China's Virus-Hit Airlines Are Showing Signs of Recovery

China's airlines industry could be showing the first signs of recovery after dramatically shrinking over the past month as the spreading coronavirus led to thousands of flight cancellations.

Scheduled airlines capacity within China is up more than 25% -- by 1.3 million seats -- week-on-week thanks to a rebound in domestic capacity, according to OAG Aviation Worldwide. Air China Ltd. appears the most optimistic as it has added back 306,000 seats, almost double its capacity from the previous week, analyst John Grant wrote.

In total, 7,923 flights will be reintroduced this week, but there could be last minute capacity adjustments and cancellations, according to Grant.


These Are The Airlines Most Affected By Coronavirus


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