United Airlines Holdings Inc has warned that sales and profit are getting hurt as the epidemic spreads.
The US credit-card network cut its revenue-growth forecast as the spread of infections puts off travellers. Singapore Airlines Ltd on Tuesday pulled more flights from its schedule through the end of May, adding to a long list of airlines led by Cathay Pacific Airways Ltd that are cutting capacity as demand craters.Increasingly, though, the coronavirus has become a concern for any industry fed by a global supply chain.
Royal Philips NV said Tuesday that it expects a hit in the first quarter as it sells fewer consumer appliances in China and its supply chain gets snarled. Adidas said last week that business slumped 85% in China since the end of the Lunar New Year holidays. The World Health Organisation called the increase in cases outside China “deeply concerning,” though stopped short of labelling the crisis a pandemic.