Aviation

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 ...

Bloomberg Scandinavian airline SAS AB will temporarily lay off up to 10,000 employees, or 90% of its workforce, in response to the fallout from the coronavirus and related measures from authorities that have restricted international air travel. “It is important to say that we do not intend this to lead to permanent layoffs,” said the company’s chief executive officer Rickard ...

Bloomberg Air New Zealand Ltd will slash its long-haul capacity by 85%, suspend some routes to North America and Asia and begin job cuts amid travel restrictions caused by the coronavirus pandemic. Shares in the airline, which have declined 47% this year as the outbreak hits the aviation industry globally, were placed in trading halt on Monday while the company ...

Bloomberg Cambridge University student James Shen didn’t hesitate to pay double for a business-class ticket to fly to China last week, deciding it would be safer there than in the UK as the coronavirus spreads in Europe. “I feel much more protected here,” Shen said after arriving home in Suzhou, about 60 miles (95 kilometres) west of Shanghai. “In the ...

Bloomberg Finland’s national carrier Finnair Oyj will slash 90% of its flight capacity in response to a decline in demand caused by the global new coronavirus pandemic, resulting in a substantial operating loss this year. The airline also withdrew its dividend proposal and plans to cut costs, according to a statement on Monday. In addition, it is implementing a funding ...

Bloomberg Airlines in the US and Europe cut flights, idled planes and drafted plans to eliminate jobs, while seeking government support to weather the roughest downturn in the industry’s history caused by the coronavirus. American Airlines Group Inc, Delta Air Lines Inc, United Airlines Holdings Inc and Southwest Airlines Co said they’re discussing potential aid from the government, without providing ...