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Monday, 16 Mar 2020 07:00 pm

Airlines seek emergency aid as coronavirus lockdowns hits industry

“It is now clear that the coronavirus is by far the biggest crisis in the history of aviation,” Finnair Chief Executive Topi Manner said as the carrier announced a 90% capacity reduction and its second profit warning in three weeks.

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Airlines made unprecedented cuts to flights, costs and staffing on Monday, stepping up calls for emergency aid as coronavirus lockdowns and new travel restrictions hit more major routes.

Already battered shares in British Airways parent IAG, easyJet and Air France-KLM plunged again as they scrapped most flights for the coming weeks, joining other major carriers that are all but halting operations in the face of the pandemic.

“It is now clear that the coronavirus is by far the biggest crisis in the history of aviation,” Finnair Chief Executive Topi Manner said as the carrier announced a 90% capacity reduction and its second profit warning in three weeks.

The outlook darkened further after Spain declared a state of emergency and the United States extended travel curbs to Britain and Ireland, while Australia and New Zealand began requiring all travelers to self-isolate. Germany advised citizens against non-essential trips abroad on Monday.

Read here

Tags British Airways Airlines Coronavirus IAG easyJet Air France Travel Ban Pandemic

Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


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