(Reuters) – The death toll from a flu-like virus in China climbed to six and new cases surged beyond 300 on Tuesday, sending shivers through global markets as investors recalled the fallout from the Severe Acute Respiratory Syndrome (SARS) outbreak in 2002/2003.
A woman holds the mask at a street in Beijing, China January 21, 2020. REUTERS/Jason Lee
Although it is too early to assess the possible financial impact of the latest outbreak, here is a look back at the havoc the SARS virus wreaked on global airlines and economy:
(Graphic: SARS and airlines click, here)
The SARS coronavirus killed nearly 800 people, with Asia-Pacific airlines losing 39 billion revenue passenger kilometers (RPKs) or around 8% of annual traffic in 2003, according to the International Air Transport Association (IATA)
That is estimated to have cost $6 billion in lost revenue for carriers in the Asia-Pacific region
North American airlines lost 12.8 billion RPKs or 3.7% of total international traffic, at an estimated revenue loss of $1 billion
Global cost from SARS estimated at $33 billion, or 0.1% of world GDP in 2003
Damage to the economies of China and Hong Kong pegged between 1% and 3%, while total East Asian losses estimated at $20 billion
Hit to Canada estimated at around $5 billion or 0.6% of its GDP, while impact to the U.S. economy put at over $7 billion
Compiled by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila
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