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New coronavirus: a threat to humanity? 5:13
Hong Kong / Beijin (CNN Business) - China's largest online travel agency is exempting cancellation fees for trips to the city of Wuhan, in central China, amid a new deadly virus that has frightened the country.
Local authorities in the city of Wuhan have delayed the local celebration of the Lunar New Year 2020, which will begin on Saturday, amid fears that a virus that causes pneumonia is spreading through the city.
LOOK: What you should know about coronavirus, the disease that spreads throughout Asia
The decision taken on Tuesday by Trip.com, also known as Ctrip, is one of the first signs that China's travel industry is beginning to respond to the new coronavirus, which originated in Wuhan and has killed at least six people and has made hundreds sick.
- READ: US Airlines see their actions fall for fear of the coronavirus
Concerns about a possible epidemic have widened because the outbreak coincides with the Lunar New Year holidays, when millions of people are expected to travel within China and other regions of Asia.
Trip.com said it would offer customers free cancellation of all hotels, car rentals and tickets to tourist attractions in Wuhan until January 31. If a hotel refuses to refund the reservation fee, Trip.com said it will pay travelers out of pocket.
Any person who has been infected by the virus, or those who have been quarantined or returned to their place of departure, regardless of where they are located, are also eligible for Trip.com's free cancellation policy. Your travel companions also qualify.
The company also said it will try to "coordinate" with airlines and other companies regarding cancellation requests. At least one Chinese state media outlet, the China Youth Daily, has suggested that the nation's railways and airlines do not apply cancellation fees to help "contain the spread of the disease."
Fliggy and Qunar.com, two smaller Trip.com rivals, announced similar policies on Tuesday.
- READ: The CDC will announce the first case of Wuhan coronavirus in the US
Tianjin Airlines and Hainan Airlines, both owned by HNA Group, have said they would allow people to change or cancel their flights to Wuhan if they have been quarantined because they show signs of illness. Those people can do it without penalties until February 29.
Concerns about the virus reached new heights on Tuesday after China confirmed that the disease can be transmitted among humans. Earlier this month, Chinese scientists identified the pathogen as a new strain of coronavirus, the same family as the virus that causes severe acute respiratory syndrome (SARS), which infected more than 8,000 people and killed 774 in a pandemic that it swept Asia and spread to Canada almost two decades ago.
Market analysts and economists have suggested that the new coronavirus could become a major risk for the region if it continues to spread.
- READ: What are the symptoms of Wuhan coronavirus, how can you protect yourself and what is the treatment?
Rajiv Biswas, chief economist at IHS Markit for Asia Pacific, said China's international tourism has skyrocketed since the SARS outbreak, which makes the risk of a SARS-like virus spreading globally even more severe. .
Asian markets were down on Tuesday. The "sea of red" in Asian markets emphasizes that "if nothing else, the global economy has a precious excess capacity to absorb unexpected crises," wrote Jeffrey Halley, senior market analyst for Asia Pacific in Oanda, in a research note on Tuesday.
Some individual travel reservations performed particularly poorly. Air China, China Eastern Airlines and China Southern Airlines, the country's three largest airlines, fell between 5.9% and 6.7% on Tuesday in Hong Kong.
coronavirus
