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Coronavirus may slash $29 billion from airlines' revenue
Goldman Sachs warns coronavirus market correction could come soon
Former undersecretary of state for economic growth Bob Hormats talks about all three major indices only seeing small pullbacks from coronavirus fears.
The outbreak of the coronavirus threatens to erase $29 billion of this year's revenue for global airlines, mostly for Chinese carriers, as travel crashes worldwide, according to the International Air Transport Association.
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The trade group for global airlines said Thursday that the virus causing COVID-19 has the potential for causing a 13 percent decline in demand for Asian carriers this year.