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April 3, 2020
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Reuters - Business

Airline industry braces for prolonged recovery from coronavirus crisis

Reuters
SYDNEY/WASHINGTON (Reuters) – International seat capacity has dropped by almost 80% from a year ago and half the world’s airplanes are in storage, new data shows, suggesting the aviation industry may take years to recover from the coronavirus pandemic. FILE PHOTO: A British Airways plane taxis past tail fins of......
CNBC Business

British Airways to reportedly suspend 36,000 of its employees

CNBC
CNBC – For more and to sign up click here Jack Taylor | Getty Images News | Getty Images British Airways is set to suspend 36,000 jobs, the BBC reported Wednesday, though talks with U.K. trade union Unite are still ongoing. The flagship U.K. airline has reportedly reached an agreement......
CNBC Business

Chinese domestic travel set to recover within months: Trip.com CEO

CNBC
CNBC – For more and to sign up click here Tourists walk under the full bloomed cherry blossom trees at Jimingsi Road on March 22, 2016 in Nanjing, Jiangsu Province of China. VCG China’s domestic travel industry is poised to resume normal activity before the summer holiday season, according to the......
Reuters - Business

U.S. backs minimum flights on airline routes in assistance review

Reuters
WASHINGTON (Reuters) – The U.S. Transportation Department on Tuesday proposed that passenger airlines should be required to maintain minimum numbers of flights as a condition for receiving aid from the government’s $50 billion grant and loan fund. FILE PHOTO: Delta Airlines planes and a British Airways plane (2nd L) are......
New York Post

Senators urge U.S. airlines to issue cash ticket refunds after bailout

NYPost
New York Post – For more and to sign up click here Nine Democratic US senators on Tuesday urged the chief executives of 11 major airlines to issue full cash refunds to customers canceling flights during the coronavirus pandemic after Congress approved $25 billion in cash grants for the hard-hit......
Reuters - Business

Senators urge U.S. airlines to issue ticket refunds after bailout

Reuters
WASHINGTON (Reuters) – Nine Democratic U.S. senators on Tuesday urged the chief executives of 11 major airlines to issue full cash refunds to customers canceling flights during the coronavirus pandemic after Congress approved $25 billion in cash grants for the hard-hit industry. Senator Ed Markey (D-MA) arrives as the impeachment......
Reuters - Business

Exclusive: American Airlines to retire more jets, including vintage 737s, in coronavirus downturn

Reuters
CHICAGO (Reuters) – American Airlines Group Inc (AAL.O) is set to sharply increase the number of jets it is planning to retire beyond its announced plans as it accelerates a fleet transformation to respond to the coronavirus crisis, people familiar with the matter said. FILE PHOTO: Passengers wear protective face......
CNBC Business

Spirit cancels New York, Connecticut, and New Jersey flights after CDC warning

CNBC
CNBC – For more and to sign up click here A Spirit Airlines passenger jet lands at LaGuardia Airport in New York, New York. Robert Alexander | Getty Images Low-cost U.S. carrier Spirit Airlines said on Monday it will cancel all flights to and from New York, Connecticut, and New......
Reuters - Business

U.S. airlines must suggest possible compensation for cash grants: Treasury

Reuters
WASHINGTON/CHICAGO (Reuters) – Airlines must suggest possible compensation in return for government cash assistance and agree to conditions that include not cutting pay or laying off employees through Sept. 30, the U.S. Treasury Department said in guidelines issued on Monday as it prepares to quickly hand out $25 billion. FILE......
Reuters - Business

Airlines line up furloughs; Air New Zealand sees smaller carrier in a year

Reuters
(Reuters) – Major global airlines projected layoffs, furloughs and capacity cuts over the next few months, with Air New Zealand warning that it expected staffing levels to be 30% smaller than it is now, due to the coronavirus pandemic. FILE PHOTO: An Air New Zealand aircraft passes a fuel truck......
CNBC Business

Consolidating flights to US cities could help stem airline losses

CNBC
CNBC – For more and to sign up click here U.S. airlines and the Department of Transportation may soon have to consider consolidating service to dozens of cities around the country in a bid to help carriers cut losses, several airline industry executives told CNBC. Executives with U.S. airlines are......
CNBC Business

Private-jet companies could get billions in aid from coronavirus bailout

CNBC
CNBC – For more and to sign up click here A Bombardier Inc. Learjet 40 XR aircraft, right, sits parked at Million Air in White Plains, New York, U.S. Paul Taggart | Bloomberg | Getty Images Private-jet companies could receive billions of dollars in loans, aid and tax relief from......
Reuters - Business

U.S. airlines cheer government relief but warn it is no ‘cure’ for deep industry crisis

Reuters
CHICAGO (Reuters) – United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action. Delta Air Lines passenger planes are seen parked due to flight......
Reuters - Business

European airlines resist mounting coronavirus refund claims

Reuters
PARIS (Reuters) – European airlines waiting in line for coronavirus bailouts want to tap another source of interest-free loans: their customers. FILE PHOTO: An Air France Boeing 777 aircraft takes off at Paris Charles de Gaulle airport, following the coronavirus disease (COVID-19) outbreak, in Roissy-en-France, France March 16, 2020. REUTERS/Benoit......
Reuters - Business

U.S. airlines expect clarity on terms of payroll grants in 5-10 days: UAL senior executives

Reuters
CHICAGO (Reuters) – U.S. airlines expect to learn the terms of federal aid meant to protect workers’ payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc (UAL.O) said on Friday. Under a relief bill......
Reuters - Business

Singapore Airlines latest to get massive bailout amid coronavirus crisis

Reuters
SINGAPORE/SYDNEY (Reuters) – Singapore Airlines Ltd (SIAL.SI) said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. FILE PHOTO: A Singapore Airlines plane sits on the tarmac......
CNBC Business

Bailout could exclude Carnival, Norwegian, Royal Caribbean cruise lines

CNBC
CNBC – For more and to sign up click here Cruise lines are among the businesses that have suffered the most fallout from the coronavirus outbreak. And the major ones could get left out of the bailout fund included in the $2 trillion stimulus bill the Senate passed Wednesday night.......
Reuters - Business

Singapore Airlines secures $13 billion to survive coronavirus and grow after

Reuters
SINGAPORE/SYDNEY (Reuters) – Singapore Airlines Ltd (SIAL.SI) said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. FILE PHOTO: An Airbus A380-800 aircraft of Singapore Airlines takes......
Reuters - Business

IATA pleads for more help for airlines after U.S. offers $58 billion aid

Reuters
DUBAI/SINGAPORE (Reuters) – The International Air Transport Association (IATA) on Thursday urged the world’s major economies to act quickly to prevent irreversible damage to an airline industry that has seen demand crushed by the coronavirus crisis. A number of governments have already stepped in to help airlines hammered by the......
CNBC Business

Four ways to have a vacation without leaving home

CNBC
CNBC – For more and to sign up click here With only the most essential trips now taking place, and many people confined to our homes, the coronovirus has proven far more powerful than the travel bug. You needn’t feel trapped though. Despite the global no-fly zone and instructions to......

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