Virgin Australia has announced it will cut flights from its budget arm - Tigerair. The airline said the effects of the coronavirus outbreak would slash profits by up to $75 million. The Tigerair fleet will shrink by more than half, axing five of its routes over the next two years.
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Virgin Australia slashes Tigerair fleet as coronavirus bitesThe airline will drastically shrink its budget arm Tigerair's fleet and is preparing steep capacity cuts across its entire network as the coronavirus outbreak stunts efforts to lift it out of its financial woes.
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Australia will 'likely' have further coronavirus outbreaks | Sky News AustraliaHealth Minister Greg Hunt says the Australian government has 'lifted our travel advisory for northern Italy' due to the increased number of cases there and across Europe. \n\nMr Hunt said 'we know that new cases have been reported in Austria, Switzerland, Croatia and an unconfirmed report which we are seeking advice on of Brazil being included”.\n\nChief Medical Officer Brendan Murphy told the media the “major concern” currently is the “international situation” and the “number of countries outside of China making it more likely that we will have further outbreaks in Australia”.\n\n“We are still contained in Australia, and we have no community transmission of this virus in Australia – so there is no reason to change anything you do, wear masks, or behave in a way that is different from normal,” he said. \n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
What will happen in Australia if the coronavirus outbreak becomes a pandemic?The coronavirus may soon turn into a pandemic. SBS News looks at what that means for Australia. Good thing I don't go outside Crapp Fails to mention if the Chinese industries are mit making all our cheap throw away rubbish who will? Who will buy our commodities? We have sold out all our manufacturers we have no secondary industries,bye bye piss weak economy hello crash. Over 65% of employment is in services.
Source: SBSNews - 🏆 3. / 89 Read more »
Reports of coronavirus vaccine leads to 'significant correction' to ASX plunge | Sky News AustraliaBusiness editor Ticky Fullerton says “the market is moving all the time and it has actually come back” following a significant ASX drop due to coronavirus fears. \n\nThe ASX dropped 4.33 per cent amid concerns the widening spread of the coronavirus would have a large impact on global economies however there was “quite a significant correction to that big jump” on Tuesday. \n\nMs Fullerton told Sky News “extraordinarily the markets here have reacted” after a “report” US drug company Moderna “shipped the first batch of rapidly developed coronavirus vaccine to US government researchers”.\n\nShe said there was an “overwhelming sense” in the market that the impact of the coronavirus was “really going to hurt”. \n\n“There is this genuine fear about the virus but extraordinary developments with Moderna,' she said. \n\nImage: AP
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Coronavirus to 'significantly' impact Aust economy | Sky News AustraliaTreasurer Josh Frydenberg has flagged the economic impact of the coronavirus will be “more significant” than the bushfires, amid growing speculation the promised budget surplus is all but gone.\n\nSpeaking in Parliament on Tuesday, Prime Minister Scott Morrison was flanked by Mr Frydenberg, Health Minister Greg Hunt and Chief Medical Officer Brendan Murphy to discuss the impacts of the coronavirus. \n\nThe prime minister was eager to promote the success of the government’s travel ban in preventing the spread of the virus in Australia, but was frank about the impact on the economy. \n\nWhen asked, Mr Frydenberg said Treasury was still finalising modelling on how the virus will affect the economy, but outlined it was now impacting on exports and the supply chain. \n\n“The message is very clear. The impact will be more significant than the bushfires, and it plays out more broadly across the Australian economy,” he said. \n\nOn if the government will still achieve the promised budget surplus, Mr Morrison stopped short of confirming it would not occur. \n\n“Hands up those who thought there was going to be a coronavirus epidemic when the budget was released last May? Of course, no one did,' he said. \n JoshFrydenberg can you get your economic expert PMOnAir Murray to cost this all for us? We need leadership in these times JoshFrydenberg 😂🤣😂🤣😂 The surplus that was never there JoshFrydenberg Of course it’s gone. LiberalAus are the worst economic managers known to mankind. They’ve squandered the benefits of our post GFC boom, more than doubled our debt and will now blame fires, storms, disease and pestilence for their incompetence!
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Coronavirus 'starting to have a real dent in sentiment' | Sky News AustraliaEconomics Fellow from the University of NSW Tim Harcourt says now that the coronavirus is impacting “Italy, Iran, and South Korea,” the “markets have reacted”. \n\nMr Harcourt told Sky News it was “still six per cent off Wall Street high,” meaning there was “no reason to panic yet”. \n\n“It is still starting to have a real dent in sentiment and seen more as a global phenomenon than something just affecting China or Wuhan alone, so perhaps less isolation than we had expected a few weeks ago,” he said. \n\nImage: Getty Even if, 100m old, sick & young people died globally from the coronavirus, the economic impact would be minimal on 7B people. The big economic losses will come from the crazy overreach of the various responses & reactions to the coronavirus risk. Watch the nutters step up!
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