Coronavirus has emptied flights. It could end up changing flying for ever

  • Date: 15-Mar-2020
  • Source: The Guardian
  • Sector:Transport
  • Country:Middle East
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Coronavirus has emptied flights. It could end up changing flying for ever

A s coronavirus grew from a Chinese outbreak to a global pandemic, the aviation industry was at the leading edge of the accompanying financial crisis.. Last week's emergency measures included the cancellation of international sporting fixtures - taking away another small but significant slice of life that is dependent on air travel.. It was not so long ago that Crown Prince Mohammed bin Salman hoped to convince the global financial community that Saudi Arabia was a respectable modern economy, home to Saudi Aramco - the world's most profitable listed company - and a power broker in stabilising oil markets.. The world's largest oil exporter triggered the worst day in the financial markets since 1987 last week after firing the starting gun on a race to pump more oil than the global market can absorb.. The benchmark price fell by its fastest rate since the 1991 Gulf war to lows not seen in four years, wiping billions from the market value of companies across the energy sector.. The companies form the pillars of global equity markets, which buckled under the pressure of plummeting share prices and fears that the economic contagion of the Covid-19 virus might