How global companies are responding to China virus | Malay Mail

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LONDON, Feb 5 — Given China’s economic heft and position in the nexus of global supply chains, the new strain of coronavirus is affecting companies from far and wide in multiple sectors. Here’s how a selection of multinational brands are responding to the epidemic, which has forced many...

Tourists are seen at a walking street in Phuket, Southern Thailand, January 31, 2020. — Reuters pic

Many airlines are trimming their schedules. Air Canada, Air France, British Airways, Delta and Lufthansa are among leading carriers that have cancelled all their flights to China. Paris department stores, a de rigueur stop for Chinese tour groups, are unusually quiet. Italy’s tourism market could face a hit of €4.5 billion this year, according to the think tank Demoskopika.Cinemas around China have been forced to close, during what was meant to be a prime time for blockbuster releases during the holidays. Canada-based Imax Corp. could be deprived of US$60-200 million in lost box-office revenues, according to analysts.

South Korea’s LG Electronics has withdrawn from this month’s Mobile World Congress, the leading showcase for the smartphone industry, citing expert advice to avoid non-essential travel. Hyundai Motor says it is suspending all production in South Korea because of a lack of parts from China. Pizza Hut and KFC are also suffering closures in Hubei province imposed by their Chinese parent company, Yum China.European plane maker Airbus has halted production from its plant at Tianjin, east of Beijing. Likewise for French group Safran, which makes helicopter engines and airplane components out of Tianjin and other plants in China.

 

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