European stocks head for worst week since June

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AThe “precious role” of ir travel in modern life is threatened because of the coronavirus, according to the boss of Airbus.

My colleague Alan Tovey reports:

Guillaume Faury, managing director of the pan-European aircraft manufacturer, has warned that the longer borders remain closed and flights blocked, the greater the risk of long-term damage to society, the global economy – and even peace.

“Aviation connects and unites people, cultures and businesses, providing the lifeline of international trade, supporting development, education and global economies,” he said in an open letter.

“Air travel not only broadens our intellectual horizons, it eases tensions by coming together to learn and understand each other, helping us find answers to our common problems.

“Aviation guarantees global peace and stability. It underpins the multilateralism, diplomacy, and conflict resolution that many took for granted in the latter part of the twentieth century.

“A more connected world is a more prosperous world, a prosperity that lays the foundation for large-scale innovation and sustainable transformation.”

The coronavirus has led to international travel bans to curb the spread of the virus which has wreaked havoc on the airline industry.

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