The virus has caused China’s share of the global aviation market to slump from third to 25th.
Due to the coronavirus, China’s aviation industry has shrunk from third to 25th largest in the world.
It is now smaller than Portugal’s, as global airlines have slashed 80% of their flights to China in an attempt to contain the virus.
Additionally, Chinese airlines cut 10.4 million seats domestically.
Just five weeks ago, China was projected to overtake the US this decade and become the world’s biggest aviation market.
Experts predict that the damage to Chinese airlines and the long term impact on their growth may linger beyond the outbreak.
Wealthy Chinese travellers are reportedly opting for private jets to get them to their destinations.
According to Australia-based Darin Voyles, of Paramount Business Jets, private jet operators have seen a big spike in requests from passengers wanting to charter their own planes.
However, private jet companies are having to turn customers away due to the risk of exposure for the crew.
“When they return from mainland China they will essentially be unable to work for two weeks as they will have to go into quarantine immediately,” Mr Voyles said.
The death toll in China stood at 1,871 on Tuesday morning, with other 72,500 people infected.
150 million people in China – 10 per cent of the population – now face lock down restrictions.
Liu Zhiming, one of Wuhan’s most senior doctors and who had taken part in the battle against the virus from the start, died Tuesday morning after contracting the virus.
Officials have threatened residents that those who delay reporting symptoms will be punished.
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