Asian airlines are now facing growth threats because of the coronavirus crisis. This is according to a group in Singapore. This is in addition to the depleted Singapore Airshow, which is supposed to be held from February 11 to 16. The organizers of the event said that the show will go on despite the number of companies scaling back from it. There are also a lot of empty spaces that could have been the spots for Chinese companies and other businesses that are not going because of the outbreak, which has already killed more than 1,000 people.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
Stock Smarts Taiwan – February 15, 2020
Stock Smarts Manila: March 14, 15, 21, 22 & 28, 2020
Stock Smarts Singapore: May 16 – 17, 2020
Stock Smarts New Zealand: June 6 – 7, 2020
Stock Smarts Sydney: July 11 – 12, 2020
Stock Smarts London: April 18 – 19, 2020
Over 70 exhibitors have already backed out from the show. This includes the well-known US defense firms Raytheon Co. and Lockheed Martin Corp. There will be a few deals to expect at the event in accordance to the new and specific safety measures. Before the coronavirus outbreak, it is expected by the International Air Transport Association that the number of passengers will increase by 4% in 2020. The cargo traffic will likewise rise by 2%. Because of the unexpected outbreak, all bets are off in terms of traffic predictions for this year.
Clearly airline companies are affected by the outbreak big time. The travel ban in the Philippines is still in effect and it decreases the opportunities for airline companies to make more income this year. Added to this is the fear of people to get the virus. Residents, tourists, and citizens would rather stay at home and inside the country rather than risk their lives outside. Expect that the performance of the airline companies at the end of the year will slow down unless they recover after the outbreak.
We’re not sure of that. The Philippines and other countries in Asia, including Singapore, have already raised their alert levels to protect their people from the widely spreading virus. While waiting for the vaccines that will eventually end the outbreak, it’s best to stay at home and go on with your investing journey. There are a lot of things you can do at your home like watching videos and reading investment books. For now, aim to protect yourself and your family from the virus. The number of people who are affected by the virus here in the Philippines is increasing. Do not let the virus reach your home.