Issue Summary

How long will it last? The Covid-19 virus outbreak, if contained soon, might prove just a painful but manageable disruption for China’s pummeled airlines, not causing any long-lasting damage. But with each passing week of grounded aircraft and empty flights, the crisis is looking more and more like a demand shock of 9/11-like proportions. As it lingers on, moreover, the hurt will spread to more foreign airlines, and perhaps the global economy itself.