On Friday, the 28th of February 2020, the European Airlines industries had heightened up their alert-level over a fast-spreading coronavirus outbreak in alignment with WHO that raised the risk alert to "very high" from a prior "high," while British Airways’ owner IAG alongside Finnair had already been waving a red-flag over its quarterly profit, as newer cases in China has now dropped below the number of cases found outside greater China for the third consecutive day in a row, stoking fears of a Pandemic of unknown nature and duration, though cases in China had begun to drop since late January, a month after the first infection was reported.
As it stands, China had grappled with its coronavirus outbreak with a number of stubborn containment measures, but the global economy, in particular the travelling, tourism and luxury industry, had been facing off a bigger trouble, scale of which could be magnanimous.
On top of that, the new novel coronavirus, Covid-19, which analysts said was borne of a recombination of two existing coronavirus strains inside any wildlife host such as pangolin which shows 99% genome sequence similarity with the Covid-19 and later spread in to the human, and was capable of mutating to avert anti-viral treatments that used to work by intruding certain phases of an RNA polymerase chain reaction, an act required for multiplication, had hit the aviation industry with the heaviest whiplash as demand for travel had hit a rock-bottom over the recent weeks.
Besides, as the crises were deepened further due to a mass-grounding of Boeing Co.’s 737 MAX, raising an alarming bell over the airlines industry, IAG said on Friday (February 28th), “We are currently experiencing demand weakness on Asian and European routes and a weakening of business travel across our network resulting from the cancellation of industry events and corporate travel restrictions. ”