Tag Archives: Airlines

Many Airlines At Brink Of Bankruptcy, Need Government Support: Industry Body

Aviation Industry Stares At Loss Of Up To $3.6 Billion In Q1 Due To Travel Ban

New Delhi: As cash reserves of aviation sector companies are “running down quickly” as planes are grounded amid the coronavirus pandemic, industry body FICCI on Wednesday recommended several measures to Finance Minister Nirmala Sitharaman and Civil Aviation Minister Hardeep Singh Puri to help aviation firms. FICCI stated in its letter …

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US Offers $58 Billion Aid To Airlines As Governments Seek To Avert Bankruptcies

US Offers $58 Billion Aid To Airlines As Governments Seek To Avert Bankruptcies

Governments stepped up efforts on Thursday to help airlines hammered by a virus-induced travel slump, with the United States offering $58 billion in aid, Singapore promising to keep its carrier aloft, and Australia easing competition rules. AirAsia, the region’s biggest budget carrier, was the latest airline to announce sweeping cuts …

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Airline Industry Crisis Deepens As Coronavirus Pain Spreads

Airline Industry Crisis Deepens As Coronavirus Pain Spreads

Germany’s Lufthansa has parked 700 of its 763 aircraft. BERLIN/SYDNEY: The crisis for airlines deepened on Thursday as Lufthansa warned the industry might not survive without state aid if the coronavirus pandemic lasts a long time, and Qantas Airways told most of its 30,000 staff to take leave. The United …

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Coronavirus News Airlines Need Up To $200 Billion In Emergency Aid, Says IATA

Airlines Need Up To $200 Billion In Emergency Aid, Says IATA

Up to $200 billion is needed to rescue the world”s airlines during the coronavirus crisis, the global aviation association said Thursday, appealing especially to African and Middle Eastern countries to provide emergency assistance. “Support measures are urgently needed,” the International Air Transport Association said in a statement, adding that “on …

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Coronavirus News Airlines May Ground 150 Planes, Stare at Quarterly Loss on Coronavirus Impact: Report

Fair Trade Regulator Sees No Evidence Of Collusion By IndiGo, SpiceJet: Report

The report said airlines already had very strained balance sheets before the coronavirus outbreak All Indian airlines will report significant losses in the first quarter of this year and may initially ground around 150 planes as the shock from the coronavirus pandemic will be “far deeper and much longer”, according …

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Ban on European travel to U.S. will batter airlines, already roiled by coronavirus

Ban on European travel to U.S. will batter airlines, already roiled by coronavirus

LOS ANGELES/WASHINGTON (Reuters) – The new U.S. ban on foreign citizens entering the country if they have traveled to Europe in recent weeks will heap more pressure on airlines already reeling from the coronavirus pandemic, hitting European carriers the hardest, analysts said. FILE PHOTO: Airplanes of German airline Lufthansa and …

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airlines share prices ticket prices take hit due to visa restriction on coronavirus spicejet discount

Airlines Take Hit As Government Suspends Inbound Visas To Stem Coronavirus

Airline shares took a hit on Thursday after government’s restriction on inbound visa Airline share prices tumbled on Thursday after the government moved to restrict travel into the country in an effort to stem the spread of coronavirus, prompting massive ticket discounting in an already slumping air travel market. Shares …

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Some airlines are running near-empty ghost flights

Some airlines are running near-empty ghost flights

An almost empty British Airways passenger plane flies from Milan to London on March 5, 2020 in Milan, Italy. Laurel Chor | Getty Images European airlines have been running near-empty flights in order to retain valuable airport slots, drawing sharp criticism from climate activists as the coronavirus outbreak dramatically reduces …

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Marseille cruise tests passengers, US airlines slash flights

Marseille cruise tests passengers, US airlines slash flights

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks.  Global cases: More than 114,578, according to data compiled by Johns Hopkins University. Global deaths: At least …

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Passenger Airlines Could Take $100 Billion Hit Due To Coronavirus, Says IATA

Passenger Airlines Could Take $100-Billion Hit Due To Coronavirus: Industry Body IATA

Airlines across the world are rushing to cut flights and costs, and warning of a hit to earnings London/Singapore: The coronavirus epidemic could cost passenger airlines up to $113 billion in lost revenue this year, an industry body warned on Thursday, more than three times a projection it made just …

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