Virus sinks airline stocks
The Canadian Press - Jan 21, 2020 - Business Buzz

Photo: The Canadian Press
Hangzhou residents take precautions in China on Tuesday.

TORONTO — Shares of four North American airlines that fly to China, including Air Canada, fell on Tuesday as fear grew about a virus that authorities say has killed six people and sickened 300 more.

Investors seemed to worry that the virus could spread beyond Asia, like the SARS outbreak that started in 2002.

Chinese authorities also confirmed that the virus can spread from one person to another, not just from animals to humans.

In afternoon trading, shares of Air Canada fell by nearly 5%, United Airlines’ parent fell 3%, Delta lost more than 2%, and American Airlines was off less than 1%.

The outbreak is believed to have started in Wuhan in central China. None of the U.S. airlines fly to Wuhan, but their Chinese partner airlines do, and some passengers do transfer from a Chinese carrier to an American one.

Fear about the virus increased just as millions of Chinese prepared to travel for the lunar New Year holiday, which starts Saturday. Cases have also been confirmed in Japan, South Korea and Thailand.

— With files from The Associated Press


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