“While the spread of the coronavirus has had a limited impact on our operations so far, we now see a negative impact on demand.
This is what the CEO should have said a month ago. They now have approximately 30% of LH destinations suspended (and surely low pax loads on the ones still operating) and he calls it 'limited impact on our operations'. He now sees a negative impact on demand...he didn't see it coming late Jan / early Feb when it was so obvious to anyone following the news or just FT here?
If I was a shareholder I would definitely have a few questions to management about the transparency (or accuracy) of their demand forecasting and the way it is communicated to investors.