The airline and aviations industries are now worrying about carrying along Middle East respiratory syndrome (MERS) along with their passengers in Asia. The outbreak that was in South Korea has now spread to Thailand. Some airlines are cancelling flights as tour groups start to cancel travel plans. Companies that lease planes are also seeing the fallout.
Air travel is the main reason why an infectious disease like MERS can move around a region or around the globe within days or weeks. Health officials around the world are concerned that MERS could follow the path of severe acute respiratory syndrome (SARS), which started in China and then spread through Asia and to North America in 2002 and 2003. SARS killed about 800 people worldwide. Airlines that fly routes in Asia and the Pacific lost about 8% of traffic during the SARS outbreak, according to the International Air Transport Association. However, the industry bounced back after that epidemic was stopped.
MERS and SARS are related viruses. They differ in that MERS is harder to catch than SARS, but has a higher mortality rate.
There have now been 166 confirmed cases of MERS in South Korea, with 24 deaths. More cases are being diagnosed, but the rate of infection appears to be slowing as quarantines and public information campaigns take effect. However, the bulk of all cases of MERS have been in the Middle East, with Saudi Arabia having the most. Isolated cases have occurred elsewhere, including Europe and North America.
Thailand confirmed its first case of MERS on Friday and immediately saw share prices fall for Thai airlines and hotel companies.
South Korea's economy is being hurt by MERS. Moody's Investors Service, a bond credit rating service, has warned the financial industry that South Korea's economic recovery could suffer.