A growing number of major American companies — including United Airlines and Mastercard — are saying coronavirus is hurting their business.
Late Monday, United Airlines announced that it has suspended flights between the United States and four destinations in China, routes that represent approximately 5% of the company's planned capacity, because of the virus.The airline said near-term demand for flights to China has fallen to near zero, and the demand for flights to the rest of its trans-Pacific routes has declined 75%.
"The canceled flights were between the United States and Beijing, Chengdu, Shanghai and Hong Kong will be suspended through April 24. United said that despite these"short-term" issues, the company believes"it will be in a strong position to deliver earnings growth in 2021 and beyond."Also on Monday, Mastercard updated its first quarter and full year 2020 revenue outlook, also because of the impact of the Coronavirus.
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