Bloomberg VietJet Aviation JSC said it has reached agreements with domestic and international lenders to delay repayments on about 80% of loans for its aircraft purchases after the budget carrier experienced a significant drop in passengers during the novel coronavirus outbreak. The lenders, which include HSBC Holdings PLC and Citibank NA, also agreed to delay repayments for three to 12 …

Bloomberg Cathay Pacific Airways Ltd expects passenger numbers to stay below 1,000 a day this month compared with the usual 100,000 as it operates at just 3% of normal capacity. The Hong Kong-based airline said it is impossible to predict when demand will improve as the economic impact of the coronavirus pandemic is intensifying. One day this week, Cathay and …

Bloomberg Virgin Australia Holdings Ltd stock was suspended in Sydney as discussions over a potential financial restructuring for the airline continue. The shares, already halted from trading, will be suspended for as long as seven days so talks centred on financial help and alternative structures can go on, Virgin Australia said in a statement. “These discussions have continued over the …

Bloomberg Amazon.com Inc is hitting back at activists within its own ranks, terminating three employees who had criticised working conditions in its warehouses. The retailer confirmed that it had fired Emily Cunningham and Maren Costa for violating company policy. The two employees, who worked at Seattle headquarters, had taken to Twitter recently to voice concerns about the treatment of workers …

Bloomberg A Swiss retailer is crying foul after a truckload of hand sanitiser it had ordered was commandeered by Italian customs officers. The shipment of disinfectant gel, purchased by Victory Switzerland GmbH for 32,000 euros ($34,800), was stopped by officials on March 30, according to Daniel Gerber, the company’s managing director. “I am not aware of any compensation for us,” …

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Tunisian President Kais Saied, have discussed bilateral relations, the global Covid-19 crisis and ways to contain the pandemic’s repercussions at various levels. In a telephone call, the leaders reviewed the measures the countries …

Bloomberg The International Monetary Fund (IMF) is set to provide $11 billion to 32 countries in sub-Saharan Africa that have requested assistance in fighting the coronavirus pandemic and its impact on the region’s economies. These steps by the IMF and its partners — the World Bank, World Health Organisation, the African Development Bank and the African Union — will support …

Bloomberg Oil fell below $20 a barrel after the International Energy Agency said a historic production cut deal won’t be enough to counter a record demand slump this year. Futures fell as much as 4.5% in New York to the lowest since 2002. Oil demand will drop by over 9 million barrels a day this year, wiping out a decade …

Bloomberg Singapore home sales slumped in March and are set to take a harder hit in coming months as the government enforces a more draconian lockdown that threatens to bring the property market to a standstill. Sales in the city-state fell 32% to 660 units last month — even before the toughest curbs were imposed — from 976 in February, …

Bloomberg One of the biggest Texas shale explorers warned it will halt all drilling if the state imposes Opec-style production caps, raising the stakes in a debate over a contentious proposal to arrest free-falling oil prices. The stark pronouncement from Diamondback Energy Inc’s finance chief stunned observers of the virtual hearing by the Texas Railroad Commission, which oversees oil output …