Korean Air issued a warning Monday that their survival is being threatened by the Coronavirus and the effects that the virus is having on the airline industry as well as Korea iself.
More than half of the countries around the world have blocked Korean tourists from entering, thus requiring Korean Air to ground 100 of the 145 aircraft in their fleet.
This grounding of more than half their fleet has resulted in a reduction of 80% of their international travel. This is extremely drastic compared to their last major cut, which was only 18% of their international fights during the 1997-1998 Financial Crisis.
In a memo issued by the company, they stated that if the outbreak continues for a longer period of time, the airline will have no choice but to fold.