10:07 GMT25 February 2020
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    WASHINGTON (Sputnik) – Disney could suffer losses of $175 million because of the closure of its Shanghai and Hong Kong theme parks amid the coronavirus outbreak, the company’s chief financial officer, Christine McCarthy, has announced.

    "The current closure is taking place during the quarter in which we typically see strong attendance and occupancy levels due to the timing of the Chinese New Year holiday", McCarthy said on Tuesday, as quoted by CNBC.

    She added that the company expects an impact of $135 million on second-quarter operating income from the Shanghai theme park and about $40 million from the closure of the Hong Kong park.

    According to Disney’s financial officer, the company’s exact losses will depend on how long the theme parks remain closed and how fast they can resume operations as normal.

    Both the Shanghai Disneyland and the Hong Kong Disneyland closed at the end of January amid the spread of the novel coronavirus. The Ocean Park in Hong Kong also said it was temporarily closing.

    According to the latest information from China’s health committee, over 24,000 people have been infected with coronavirus in China. At least 490 have died from the disease in the country.

    Tags:
    Disney, coronavirus, China
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