Bloomberg The fight to survive the Covid-19 crisis is pitting airlines across the globe against their grounded customers. Regulations in the US and Europe generally call for carriers to offer passengers a refund if a flight is cancelled, with exceptions for circumstances like bad weather. It happens in normal times, but country lockdowns have dissolved schedules for weeks, with airlines ...

Bloomberg JetBlue Airways Corp will park 100 aircraft and reduce flying capacity 70% this month as passenger loads plummet because of the new coronavirus. The carrier expects the number of passengers to fall to 7,000 daily in April from about 120,000 that it would typically expect, a plunge of 94%, JetBlue said in a statement. The New York-based airline also ...

Bloomberg Deutsche Lufthansa AG Chief Executive Carsten Spohr is facing mounting pressure to hand over an equity stake to the German government as the airline fights for survival in the coronavirus crisis, according to people familiar with the matter. Lufthansa representatives are locked in talks with the cabinet in Berlin, the people said, asking not to be identified because the ...

Bloomberg Stuck-at-home Americans are nowadays way more interested in buying toilet paper and hand soap than handbags and evening gowns. That’s forcing luxury retailers, like Neiman Marcus Group Inc and Nordstrom Inc, to resort to a tactic they rarely use: discounts. Neiman Marcus has Tom Ford glasses, which usually sell for about $400, at 50% off on its website. Customers ...

Bloomberg Kenya Airways Plc is appealing for a cash bailout from the government to be able to survive the next six months as the partially state-owned carrier runs out of money after grounding all international flights to help contain the coronavirus. It will cost the airline about $5 million a month to manage its grounded fleet and retain a workforce ...

Bloomberg Swissport International AG, the airport ground services firm owned by beleaguered Chinese conglomerate HNA Group Co, hired advisers to review its debt as passenger air traffic grinds to a halt because of coronavirus restrictions. The company appointed boutique financial services firm Houlihan Lokey and lawyers White & Case LLP to help the firm “strengthen its financial position,” it said ...

When I first began writing about economics in the early 1970s, I made a private vow that I would never use the word “depression” in describing the state of the economy. The economists and politicians who occasionally did so were, I thought, engaged in partisan hyperbole. Their game was to scare people into thinking the end of the world was ...

Venerable apparel retailer Brooks Brothers says it is “in the process of converting its New York, North Carolina and Massachusetts factories from manufacturing ties, shirts and suits to now making masks and gowns.” Michigan-based workwear maker Carhartt is shifting over to mask and gown production, too. In Houston, Gourmet Table Skirts & Linens, which normally sells to hotels and cruise ...

As coronavirus spreads across the US, epidemiologists and public health experts keep hitting one message: Stay home. Without social distancing, Covid-19 could kill nearly 2 million Americans — perhaps 17 times as many as there would be if everyone hunkers down. This is why, as of early April, the vast majority of Americans are living under shelter-at-home orders. But what ...

US employment continues to collapse, with a shocking 6.65 million new jobless claims reported yesterday. The Federal Reserve has predicted that the unemployment rate could reach 32% — considerably higher than at the depths of the Great Depression. Much of the US economy is based on local services and with people across the entire nation confined to their homes because ...