NYC to Miami for $51: Coronavirus Slump Leads to Steep Airfare Discounts

(Bloomberg) -- It reads like a typo, as if there's a digit missing: round-trip airfare, New York to Miami, for $51.

It's right there on the Frontier Airlines website. Search a little more on Google and other absurdly low prices pop up: round trip Chicago to San Francisco for $137 or, on the Delta website, New York to London for under $500.

The cause, of course, is the coronavirus and the havoc it is wreaking on airlines. As more and more travelers scrap -- or at least, postpone -- their plans, demand for tickets is plunging, forcing Delta Air Lines Inc. and its rivals to slash prices to try to fill planes.

Southwest Airlines Co., United Airlines Holdings Inc. and JetBlue Airways Corp. have all warned about the impact of the virus as tourists curtail travel and companies cancel events. The S&P 500 index of the biggest airlines has plunged almost 30% this year as the impact deepens.

The Centers for Disease Control and Prevention recommends avoiding nonessential travel to some nations, including China, Iran, South Korea and Italy. Older adults or those with medical conditions should consider postponing travel to Japan. For other nations, the CDC recommends travelers take the usual precautions.

The coronavirus has also altered consumer behavior across other industries: While airlines and restaurants appear to be losers, shoppers are snapping up items like disinfecting wipes and canned goods, creating some winners amid the broader decline of U.S. equities.

--With assistance from Justin Bachman.

To contact the reporter on this story: Jonathan Roeder in Chicago at jroeder@bloomberg.net

To contact the editors responsible for this story: Anne Cronin at acronin14@bloomberg.net, Tony Robinson

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