April, 2020

• 6 April

  Mnuchin urged to avoid ‘unreasonable’ terms on US airlines

  

  Bloomberg House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer urged the Treasury Department to move more quickly to help airlines to save industry jobs and refrain from imposing “unreasonable conditions” that might spur some carriers to decline payroll assistance. In a letter to Treasury Secretary Steven Mnuchin, Pelosi and Schumer stressed that provisions of the $2.2 trillion stimulus ...

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• 6 April

  Lessors take back 27 jets from Interjet

  

  Bloomberg Lessors have taken back at least 27 planes from Mexico’s Interjet, according to a company that tracks leased aircraft, making the airline one of the first to lose a big chunk of its fleet as the coronavirus pandemic torpedoes travel demand. The repossessed Airbus SE jets have been flown mainly to Arizona and California, said UK-based aviation consultant IBA ...

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• 6 April

  Wizz Air CEO stands by jet-delivery plan in boost to Airbus

  

  Bloomberg Wizz Air Holdings Plc Chief Executive Officer Jozsef Varadi said Europe’s third-biggest discount carrier will take delivery of hundreds of new jetliners as planned despite idling 90% of capacity in response to the coronavirus outbreak. Wizz will accept all 15 Airbus SE planes due this year, followed by the rest of its commitment, to position itself for a post-virus ...

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• 6 April

  Japan’s airlines join global carriers with huge losses

  Bloomberg Japan’s major airlines are on track to see revenue drop by $4.6 billion from February through May, an industry group said, pushing ANA Holdings Inc and Japan Airlines Co closer to the crisis ensnaring other global carriers because of the coronavirus pandemic. Scheduled Airlines Association of Japan’s forecast amplifies its warning from from March 13, when it predicted losses ...

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• 6 April

  DoorDash to deliver toilet paper, groceries

  Bloomberg DoorDash Inc, the biggest food delivery app in the US, will start delivering goods from 7-Eleven, Wawa and other convenience stores to Americans who are mostly stuck at home for the foreseeable future. The San Francisco-based startup said it began testing the sale of paper towels and other packaged goods this year and decided to accelerate the rollout due ...

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• 5 April

  UAE launches online campaign for mental support amid outbreak

  

  DUBAI / WAM The National Programme for Happiness and Wellbeing (NPHW) launched a national campaign for mental support for all UAE residents to help them overcome the psychological impact resulting from the spread of Covid-19. More than 50 experts in the fields of psychology, mental and social support, and life skills are participating in the initiative. The National Campaign for ...

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• 5 April

  Saudi Arabia, Russia push negotiations for oil pact

  

  Bloomberg Saudi Arabia, Russia and other large oil producers are negotiating for a deal to stem the historic price rout, even as leaders trade barbs in public. “President Putin and Russian side in general are keen to engage in constructive negotiations, which is the only way to stabilise the international energy market,” Kremlin spokesman Dmitry Peskov said in a pre-recorded ...

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• 5 April

  Adnic pledges AED3mn in fight against Covid-19

  

  ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic) contributed AED3 million to Ma’an Abu Dhabi towards the ‘Together We Are Good’ programme to support the UAE community in addressing the impact of Covid-19. Adnic commends the UAE authorities for taking fast and decisive action to fight against the spread of Covid-19 and extends its gratitude to the brave ...

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• 5 April

  Sinking global economy slammed by dangerous disinflationary shock

  

  Bloomberg The sinking global economy is suffering through a colossal disinflationary shock that could briefly push it into dangerous deflation territory for the first time in decades. With many national economies all but shutting down in an effort to contain the coronavirus, prices on everything from oil and copper to hotel rooms and restaurant take-out are tumbling. “A powerful disinflationary ...

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• 5 April

  Kizad inks AED55mn deal with India’s largest plastics packager

  

  Abu Dhabi / emirates business India’s leading manufacturer of plastic packaging materials, Shrinath Flexipack Pvt Ltd, has finalised an agreement to build its first factory in the Middle East at Kizad. The investment of AED 55 million ($15 million) will allow the Hyderabad plastics player to set up on a greenfield site within Kizad’s Polymers Park. The new facility will ...

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