---
title: Coronavirus Costing Businesses Billions | Inside FM
description: Companies are losing billions of dollars due to the novel coronavirus. It is happening because of missing products, low demand and/or stock valuation.
image: https://ifm.flagshipinc.com/hubfs/Businessman-Coronavirus-Protection-Mask.jpg
---
[](https://flagshipinc.com/)
Search Site
Search Site
- [Services](https://flagshipinc.com/services/)
- [Facility Maintenance](https://flagshipinc.com/facility-maintenance/)
- [Specialty Maintenance](https://flagshipinc.com/specialty-maintenance/)
- [Janitorial Services](https://flagshipinc.com/janitorial-services/)
- [Engineering Services](https://flagshipinc.com/engineering-services/)
- [Managed IT Services](https://flagshipinc.com/managed-it-services/)
- [Mechanical/Electrical/Plumbing (MEP)](https://flagshipinc.com/mechanical-electrical-plumbing/)
- [Lab Support Services](https://flagshipinc.com/lab-support-services/)
- [Lab Equipment Services](https://flagshipinc.com/lab-equipment-services/)
- [Culinary Services](https://flagshipinc.com/culinary-services/)
- [Project Management](https://flagshipinc.com/project-management/)
- [Ancillary Staff Management](https://flagshipinc.com/ancillary-staff-management/)
- [Mobile Support](https://flagshipinc.com/mobile-support/)
- [Industries](https://flagshipinc.com/industries/)
- [Aviation](https://flagshipinc.com/industries/aviation/)
- [Business & Manufacturing](https://flagshipinc.com/industries/business-manufacturing/)
- [High Tech](https://flagshipinc.com/industries/high-tech/)
- [Life Sciences](https://flagshipinc.com/industries/life-sciences/)
- [Education](https://flagshipinc.com/industries/education/)
- [Jobs](https://flagshipinc.com/jobs/)
- [Applying to a Job](https://flagshipinc.com/jobs/apply-to-a-job/)
- [Jobs Listings](https://flagshipinc.wd5.myworkdayjobs.com/flagshipinc)
- [Resources](https://flagshipinc.com/resources/)
- [Newsroom](https://flagshipinc.com/resources/newsroom/)
- [Inside FM Blog](https://ifm.flagshipinc.com/)
- [Webinar](https://flagshipinc.com/resources/webinars/)
- [Videos](https://flagshipinc.com/resources/videos/)
- [Client Stories](https://flagshipinc.com/resources/client-stories/)
- [White Papers](https://flagshipinc.com/resources/white-papers/)
- [Library](https://flagshipinc.com/category/library/)
- [About](https://flagshipinc.com/about/)
- [Leadership](https://flagshipinc.com/about/leadership/)
- [Volunteer & Outreach](https://flagshipinc.com/about/volunteer-outreach/)
- [Locations](https://flagshipinc.com/about/locations/)
- [Values](https://flagshipinc.com/about/values/)
- [Safety](https://flagshipinc.com/about/safety/)
- [Inclusion & Diversity](https://flagshipinc.com/about/inclusion-diversity/)
- [Contact Us](https://flagshipinc.com/contact/)
- [IT Customer Portal](https://flagshipinc.myportallogin.com/)
- [Lab Equipment Service Request](https://flagshipinc.com/lab-equipment-service-request/)
- [Scope of Work](https://flagshipinc.com/contact/scope-of-work/)
- [We're Social](https://flagshipinc.com/contact/social/)
- [Talk to an Expert](https://flagshipinc.com/contact/)
# Coronavirus Costing Businesses Billions
Category: [Aviation](https://ifm.flagshipinc.com/tag/aviation)
Tags: [Coronavirus](https://flagshipinc.com/category/coronavirus/)
Companies and industries are losing billions of dollars due to the novel coronavirus (COVID-19). A lot of the money is due to reduced travel to and from Asian countries. Other industries have been impacted due to reduced productivity or the inability to meet demand.
## Airlines Could Lose $30 Billion
According to the [International Air Transport Association](https://www.iata.org/en/pressroom/pressroom-archive/2020-press-releases/2020-02-20-01/), canceled flights and travel to China is set to cost global airlines approximately $30 billion. This is primarily due to the coronavirus and fears of its spread. International carriers could lose $1.5 billion but airlines operating primarily in the Asia-Pacific region will feel the brunt of the impact, with potential losses reaching $28 billion.
## Hyatt’s China Business is Down 90% in February
Hyatt Hotel’s [quarterly earnings](https://investors.hyatt.com/investor-relations/financial-reporting/quarterly-earnings/default.aspx) call was overcome with talk about the coronavirus. Hotels in the Asia-Pacific countries have been operating under extraordinary circumstances. Due to a cluster of COVID-19 cases, 26 properties were closed, and many others are running at very low occupancy. Businesses have canceled meetings and multinational retreats in the areas, which has also affected revenue.
## Apple to Fall Short of Projected Revenue Due to Coronavirus, Losing $45 Billion
In an [investor update](https://www.cnn.com/2020/02/18/investing/premarket-stocks-trading/index.html), Apple warned that it no longer expects to meet its first quarter numbers. The company is concerned not only with meeting production numbers but also demand of Apple products around the globe. In China, Apple stores have been closed to protect the health and welfare of both customers and employees. However, this is causing a supply chain issue and there is now a broader fallout to stock prices.
## Global Economy has Been Disrupted
From children’s toys to Teslas, the coronavirus in China is disrupting the global flow of business. Supply chains have been broken. So many products and parts are manufactured in China, and the country has been at a standstill for almost two months. Activities at factories have either slowed or stopped and inventory cargo has halted. Hopefully the virus will be controlled, and business will return to normal soon.
While COVID-19 has caused a world health crisis and public health emergency, because of the impact on businesses and global industries, it is also causing a global economic crisis. Overcoming the fears of customers and regaining their business may take time. Promoting healthy facilities that have incorporated advanced disinfection and sterilization methods can help.
Commit to passenger health, employee safety and client wellness to regain customers’ trust that you are taking precautions to put their health first.
## Leave a Comment
### Subscribe Now! Stay up to date with the latest facility management tips and news.
## More Resources
[](https://ifm.flagshipinc.com/successful-janitorial-services-transition)
### [Three Keys to a Successful Janitorial Services Transition](https://ifm.flagshipinc.com/successful-janitorial-services-transition)
[](https://ifm.flagshipinc.com/flexible-fm-for-enhanced-airport-efficiency)
### [How Flexible FM Programs Enhance Airport Efficiency](https://ifm.flagshipinc.com/flexible-fm-for-enhanced-airport-efficiency)
[](https://ifm.flagshipinc.com/how-technology-enhances-passenger-experience)
### [How Technology Enhances the Airport Passenger Experience](https://ifm.flagshipinc.com/how-technology-enhances-passenger-experience)
## Sign Up for Our Inside FM Blog
### [Services](https://flagshipinc.com/services/)
- [Facility Maintenance](https://flagshipinc.com/facility-maintenance/)
- [Janitorial Services](https://flagshipinc.com/janitorial-services/)
- [Lab Support Services](https://flagshipinc.com/lab-support-services/)
- [Managed IT Services](https://flagshipinc.com/managed-it-services/)
- [Culinary Services](https://flagshipinc.com/culinary-services/)
### Helpful Links
- [Job Listings](https://flagshipinc.wd5.myworkdayjobs.com/flagshipinc)
- [Request Scope of Work](https://flagshipinc.com/contact/scope-of-work/)
- [IT Customer Portal](https://flagshipinc.myportallogin.com/)
- [Flagship Culinary Services](https://flagshipculinaryservices.com/)
### Contact Us
[844-649-8884](tel:844-649-8884)
[info@FlagshipInc.com](mailto:info@flagshipinc.com)
Headquarters
[405 S Kimball Ave, Southlake, TX 76092](https://goo.gl/maps/ESpSET66qQ9zLzsS9)
© 2024 [Flagship Facility Services](https://flagshipinc.com) | [Privacy Policy](https://flagshipinc.com/privacy-policy/)
```json
{
"@context" : "https://schema.org",
"@id" : "https://ifm.flagshipinc.com/#organization",
"@type" : "Organization",
"logo" : "https://4850175.fs1.hubspotusercontent-na1.net/hubfs/4850175/Flagship-Facility-Services-F-Logo.jpg",
"name" : "Flagship Facility Services, Inc.",
"sameAs" : [ "https://www.facebook.com/FlagshipFacilityServices", "https://www.linkedin.com/company/flagship-facility-services-inc/", "https://www.youtube.com/channel/UCUZ_pkCHvdKTPr7htFIZkgg", "https://twitter.com/Flagship_Inc" ],
"url" : "https://ifm.flagshipinc.com/"
}
```
```json
{
"@context" : "http://schema.org",
"@type" : "BlogPosting",
"articleBody" : "Companies and industries are losing billions of dollars due to the novel coronavirus (COVID-19). A lot of the money is due to reduced travel to and from Asian countries. Other industries have been impacted due to reduced productivity or the inability to meet demand. Airlines Could Lose $30 Billion According to the International Air Transport Association, canceled flights and travel to China is set to cost global airlines approximately $30 billion. This is primarily due to the coronavirus and fears of its spread. International carriers could lose $1.5 billion but airlines operating primarily in the Asia-Pacific region will feel the brunt of the impact, with potential losses reaching $28 billion. Hyatts China Business is Down 90% in February Hyatt Hotels quarterly earnings call was overcome with talk about the coronavirus. Hotels in the Asia-Pacific countries have been operating under extraordinary circumstances. Due to a cluster of COVID-19 cases, 26 properties were closed, and many others are running at very low occupancy. Businesses have canceled meetings and multinational retreats in the areas, which has also affected revenue. Apple to Fall Short of Projected Revenue Due to Coronavirus, Losing $45 Billion In an investor update, Apple warned that it no longer expects to meet its first quarter numbers. The company is concerned not only with meeting production numbers but also demand of Apple products around the globe. In China, Apple stores have been closed to protect the health and welfare of both customers and employees. However, this is causing a supply chain issue and there is now a broader fallout to stock prices. Global Economy has Been Disrupted From childrens toys to Teslas, the coronavirus in China is disrupting the global flow of business. Supply chains have been broken. So many products and parts are manufactured in China, and the country has been at a standstill for almost two months. Activities at factories have either slowed or stopped and inventory cargo has halted. Hopefully the virus will be controlled, and business will return to normal soon. While COVID-19 has caused a world health crisis and public health emergency, because of the impact on businesses and global industries, it is also causing a global economic crisis. Overcoming the fears of customers and regaining their business may take time. Promoting healthy facilities that have incorporated advanced disinfection and sterilization methods can help. Commit to passenger health, employee safety and client wellness to regain customers trust that you are taking precautions to put their health first.",
"author" : {
"@type" : "Person",
"name" : "Flagship Facility Services",
"url" : "https://ifm.flagshipinc.com/author/flagship-facility-services"
},
"dateModified" : "2023-06-21T19:30:48+0000",
"datePublished" : "2020-02-21T21:51:13+0000",
"description" : "Companies are losing billions of dollars due to the novel coronavirus. It is happening because of missing products, low demand and/or stock valuation.",
"headline" : "Coronavirus Costing Businesses Billions",
"image" : {
"@type" : "ImageObject",
"url" : "https://cdn2.hubspot.net/hubfs/4850175/Businessman-Coronavirus-Protection-Mask.jpg"
},
"mainEntityOfPage" : {
"@id" : "https://ifm.flagshipinc.com/coronavirus-costing-businesses-billions",
"@type" : "WebPage"
},
"publisher" : {
"@type" : "Organization",
"logo" : {
"@type" : "ImageObject",
"height" : 577,
"url" : "https://ifm.flagshipinc.com/hubfs/02-Flagship-Logo/Flagship-Facility-Services-F-Logo.jpg",
"width" : 577
},
"name" : "Flagship Facility Services, Inc."
}
}
```