Source: Business Insider
American airline carriers are bracing for impact from the virus sweeping China. Most flights in Wuhan, China, the epicenter of the coronavirus, were cancelled Thursday as officials scramble to stop the spread of the disease. JPMorgan warned this week that any flight cancellations caused by the outbreak could be a near-term risk for airline equities. Click here for more BI Prime stories . The outbreak of a SARS-like virus in China, coinciding with the Lunar New Year travel season, is likely to wreak havoc on US airlines amid earnings season. Tens of millions of people are affected by measures that Chinese officials are executing in order to contain the spread of the coronavirus, which has affected an estimated 630 people — 17 of whom have died, T he Washington Post reported . And in Wuhan, the outbreak’s epicenter, more than 200 flights were cancelled on Thursday, according to data from FlightRadar24. While most of the flights in Wuhan are domestic, international travelers rethinking trips to China could be a drag on US airline revenue, JPMorgan analysts warned this week. “The Chinese coronavirus may represent a near-term and potentially material overhang as we head into the brunt of earnings season, as we are already facing a deluge of inquiries related to pandemic precedent,” Jamie Baker, the bank’s airlines analyst said in a note to clients Tuesday.