Aviation

Bloomberg The global airline industry needs government aid and bailout measures totalling between $150 billion and $200 billion if it’s to survive the coronavirus crisis, according to the International Air Transport Association (IATA). Even then, the pandemic is likely to reshape the industry, with many airlines failing, others consolidating and entirely new groupings emerging, IATA Chief Executive Officer Alexandre de ...

Bloomberg United Airlines Holdings Inc will slash international flights by 85% in April, the most among major US carriers, as the coronavirus outbreak kills demand for air travel. The carrier will also reduce flights across the US and Canada by 42%, and is monitoring changes in local rules and government restrictions before further adjusting its schedule, it said in a ...

Bloomberg Flights to Chicago’s Midway Airport resumed, ending a temporary halt that occurred after technicians who work in the air-traffic control tower tested positive for the Covid-19 virus. The Federal Aviation Administration (FAA) had blocked flights departing from other airports to Midway as it switched control to a nearby air-traffic facility, according to an agency flight-tracking website. The restriction was ...

Bloomberg FedEx Corp suspended its financial forecasts as the coronavirus pandemic blurred the demand outlook, upsetting a major overhaul at the courier to cut costs and handle a flood of e-commerce packages. While the uncertainty is shutting down daily life in much of the world, FedEx is beginning to see a cargo rebound in China, where the outbreak originated. About ...

Bloomberg Moody’s Investors Service is taking aim at airlines, placing multiple carriers on review for downgrades as the industry faces the sharpest downturn since at least the 9/11 terrorist attacks. Moody said in a statement that it’s considering cutting Delta Air Lines Inc to junk. The carrier currently has a Baa3 rating, the lowest investment-grade rank. The ratings company cited ...

Bloomberg Scott Kirby, the president of United Airlines Holdings Inc, described a “dire scenario” in which monthly sales would plunge 70% until the start of June, then 60% that month and 40% in July and August. That outlook, it soon became clear, was too optimistic with the coronavirus pandemic destroying virtually all demand for travel. Airlines and their labour unions ...

Bloomberg Qantas Airways Ltd is cutting almost all overseas flights and more than half its domestic schedule as the coronavirus outbreak paralyses travel worldwide. International capacity will be cut by about 90% until at least the end of May, the Australian airline said in a statement. Domestic capacity will fall 60% over the same period. Government travel bans, quarantines and ...

Bloomberg Air Canada fell as much as 38%, its biggest one-day drop since going public, after prime minister Justin Trudeau said the country would close its borders to all foreign travellers except Americans. The Montreal-based company became the latest airline to withdraw financial forecasts and cut capacity as the Covid-19 pandemic plunges the global industry into unchartered territory. The stock, ...

Bloomberg Private jet operators are turning away wealthy clients as coronavirus-related travel bans restrict their ability to operate, despite a surge in requests from people willing to shell out as much as $150,000 to secure a spot on their planes. Inquiries for international flights on private jets have shot up ninefold, said Kanika Tekriwal, founder of New Delhi-based JetSetGo, as ...

Bloomberg The airline downturn reached new levels as carriers from American Airlines Group Inc to British Airways parent IAG SA slashed schedules and braced for a drought that could last for months. American will pare long-haul international flights by 75% — the biggest reductions to date by a US-based carrier — because of the collapse in travel demand and government ...