The Asian carriers may be the canaries in the coal mine here, as they are the fastest growing and hence the most leveraged. I cannot understand the relative unconcern shown to date by the industry.
Unless this outbreak is brought under control soon, start of spring art the latest, there will be dramatically less travel.
No one wants to be stuck in quarantine after a flight or a cruise.
Traffic in December was up 4.5% globally, based on IATA stats. The 2020 comparisons are likely to be negative.