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.
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