Aviation outlook dull because of coronavirus outbreak
The outlook for India’s aviation industry remains “negative” in the wake of the coronavirus outbreak, which has resulted in many international passengers cancelling their travel to Southeast Asian countries, according to rating agency Icra.
Icra said the outbreak has impacted travel to and from China as well as other Southeast Asian countries.
“The suspension of flights on the India-China sector will not result in any significant impact on the financial performance of the airlines, unless the lockout is prolonged, as the traffic on these routes account for only 0.9-1.3 per cent of the total international passenger numbers,” Icra said on Thursday.
However, the agency said the impact is expected to be severe if passengers from other Southeast Asian countries, hit by coronavirus, cancel their travel.
Traffic from these countries account for around 19.5-23.8 per cent of the total international passengers flying to and from India, it noted.
Chicken sales hit
Chicken sales in India have come down over 50 per cent and prices by 70 per cent in the last one month as speculation swirled on social media that chicken causes coronavirus disease, denting both demand and prices, a top Godrej Agrovet official said on Thursday.
Godrej Agrovet managing director B.S. Yadav said the poultry arm Godrej Tyson Foods has also taken a beating as sales have dropped sharply by 40 per cent in the last one month from 6,00,000 birds a week, he said. However, once the rumours die down and consumption rises in the next 2-3 months, there would be a shortage of chicken in the country causing sharp rise in prices, he noted. Yadav also mentioned that the government has issued advisories that coronavirus does not spread from chicken and asked state governments to take action against rumour mongers.