Bloomberg Air Canada said it expects the impact of the coronavirus pandemic to last at least three years and predicted large job cuts as it hunkers down to survive “the darkest period ever” for the industry. The country’s biggest airline, which reported a first-quarter loss, said it expects capacity in the third quarter to be 75% below last year’s level, …

Bloomberg Spain’s transport ministry is seeking to help airlines tap bank state-backed loans but more help may be needed, Minister Jose Luis Abalos said. “I do believe airlines will tap those loans, but it is possible that they may need a reinforcement to those credit-lines, which now are enough to help liquidity only in the short-term,” Abalos said at a …

Bloomberg Oil fell after a three-day rebound as a number of funds shifted away from near-term contracts, fearing a repeat of the meltdown last month that saw prices plunge below zero. Futures fell 8% towards $18 a barrel in New York as investors worried that a massive supply overhang while coronavirus shatters demand will send market tumbling again. The manager …