As the COVID-19 coronavirus spreads to more countries and wreaks havoc on financial markets around the world , it's also roiling global supply chains, air travel, logistics, and virtually every sector of the transportation economy.
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Shifting Gears: How Uber, airlines, automakers, shippers, and cruise lines are bracing against the coronavirus
Associated Press
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Nearly everyone on the team has written about the effects of the novel virus on their beats, and today seems like an apt time to highlight those specific effects.
What parts of the coverage are lacking? What questions are you left with? Let me know at grapier@businessinsider.com. If you were forwarded this email or are reading on LinkedIn, you can subscribe here.
Let's dive in:
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Uber drivers are on the front lines against the spread of the disease . In conversations with Business Insider, many said they've begun to take precautions like disinfecting their vehicles and avoiding airport trips. The company, meanwhile, hasn't said anything to them about how its contingency planning.
Airlines , meanwhile, have drastically cut service to places beyond China, where the virus outbreak began. Here's a running list of all the cancellations , which so far includes Japan, South Korea, and Singapore
Many carriers are also turning hospital-grade disinfectants to sterilize planes to stave off the virus.
Here's what you need to know about changing or cancelling flights and getting refunds as the virus continues to spread.
Supply chains and factories are being thrown into disarray as many workers stay home in China. Moody's, the credit-rating agency, slashed its 2020 outlook for global auto sales because of the virus, and companies like Tesla are seeing their stocks fall more than benchmark indexes as Chinese factories hit the skids.
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In shipping, the virus is likely to have a "disastrous" effect and volumes are set to plunge . UPS and FedEx, two of the world's largest shipping companies, will likely see 70% less revenue from Asia, UBS analysts estimated this week.
Cruise ships are getting hit too, given that the boats are natural places for infections to spread (like norovirus, the common cruising ailment.) All of the largest lines expect their revenues to be hit. Mark Matousek has the company-specific breakdown here .
See Also:
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- At least 62 airlines have canceled flights beyond China as the coronavirus spreads globally here's the full list
- What you need to know about changing or canceling your travel plans because of the coronavirus, as outbreaks spread to every continent except Antarctica
- Geneva International Motor Show canceled amid coronavirus fears, bans on Swiss gatherings of more than 1,000 people
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