The rapid spread of the new coronavirus is testing airlines and other travel companies with a risk that had been nearly unthinkable over the past decade: a broad decline in travel demand.
Air-travel demand had been growing at twice the pace of the global economy, but that bright spot is now at risk. U.S. airlines and other travel stocks have tumbled more than the broader market in this week’s rout as big conferences were canceled and fears grew that customers may just opt out of trips because of the spreading COVID-19 outbreak.
