Benchmark jet fuel prices in Singapore and the US have plunged by 17% so far this year, as airliners canceled more than 200,000 flights due to the coronavirus outbreak. The epidemic has affected 90,000 people worldwide and claimed more than 3,000 lives, health officials said.
To curb the infection, governments have restricted travel from and to China. Airliners around the world have halted their flights from and to the country because of the virus. In February, the number of flights from and to China collapsed by 80% year-on-year, data from aviation consulting firm Cirium showed.
This year, air flights are set to fall for the first time since 2009. The International Air Transport Association expects the outbreak to cost global airliners by $29 billion in revenue. Air France-KLM estimates that the virus could cost its result through April by $217 million.
