Air Travel Poised for Worst Year on Record Amid Virus Outbreak
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The coronavirus outbreak is rapidly becoming a crisis of historic proportions for the global air travel industry.
Commercial air traffic is poised to fall 8.9% this year as the outbreak causes a sudden plunge in demand around the world, according to Jefferies. That would be the biggest drop in data that goes back to 1978 -- dwarfing the impact following the 9/11 terrorist attacks and the recession that ended in 2009 -- and only the fourth decline overall.