Airlines may suffer $100b loss

Cutting capacity

United Airlines said it will reduce 10 percent of its US and Canadian flights and 20 percent of international ones in April, with a cut of similar scale in May.

United already has seen a 100 percent decline in near-term demand to China and approximately 75 percent decline on the rest of transpacific routes, according to a company statement.

The company postponed an investor conference set for March 5, saying it "does not believe it is practical to expect that it can have a productive conversation focused on its long-term strategy".

Air New Zealand is withdrawing its previously issued full-year earnings guidance for 2020, citing "increased uncertainty surrounding the duration and scale of the COVID-19 outbreak".