March 10, 2020 / 4:16 PM / in 5 months

GRAPHIC-Coronavirus wipes $70 billion off global listed airlines

    * Air China 3rd most valuable airline amid market tumult
    * Delta, Southwest highest by market cap
    * Airlines hardest hit by virus

    By Josephine Mason
    LONDON, March 10 (Reuters) - The rapid spread of coronavirus
has wiped almost a third - or $70 billion - off the world's top
20 listed airlines and reshuffled global rankings, elevating Air
China into third place behind U.S. rivals, an analysis by
Reuters shows.
    The airline sector has been hit hardest by the outbreak of
coronavirus, with falling ticket demand and Italy in lockdown
forcing carriers to cancel routes and slash costs to survive the
mounting crisis.
    With the investor sell-off accelerating, United Airlines
 has lost its number three position in the global line-up
to Air China.
    The U.S. carrier's market capitalisation has halved to $11.6
billion, the lowest since 2003, since the start of the year,
leaving it also lagging behind Europe's low-cost carrier Ryanair
.
    Air China has been relatively unscathed - its market cap was
$15 billion on Tuesday, compared with $19 billion on Jan. 2.
    The scale of the rout has been breathtaking. 
    Wizz Air, a budget carrier focused on central European
routes, is now more highly valued than Air France-KLM, and the
world's most valuable airline, Delta Air, has seen more than $10
billion knocked off its value this year, taking its market cap
to about $28 billion, the lowest since September 2016. 
    
    
    
    Market cap of top listed 20 airlines measured in $ billion: 
  
    
                                    Mar-10    Jan-02    % change
 Delta Air                            27.9      38.2         -27
 Southwest                            22.6      28.9         -22
 Air China                              15      18.9         -21
 Ryanair                              13.8      18.4         -25
 United                               11.6      22.7         -49
 BA-owner IAG                         10.8      16.6         -35
 Singapore                             6.8       8.1         -16
 American                              6.3      12.7         -50
 Air Canada                            5.8      10.2         -43
 Lufthansa                             5.7       8.4         -32
 easyJet                               5.1       7.2         -29
 Cathay Pacific                          5       5.8         -14
 Qantas                                4.4       7.5         -41
 JetBlue                               3.8       5.5         -31
 Wizz                                  3.2       3.8         -16
 Air France-KLM                        2.5         5         -50
 Korean Air                            1.9       2.3         -17
 Spirit                                1.5       2.9         -48
 Finnair                               0.6       0.9         -33
 SAS                                   0.4       0.6         -33
 Norwegian Air                         0.2       0.7         -71
 Total                               154.9     225.3         -31
 
    
 (Reporting by Josephine Mason; Editing by Jan Harvey)
  
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