France’s economy minister Bruno Le Maire has pledged to support big companies, including Air France, by any means necessary as the government unveiled an initial €45 billion ($49.6 billion) package of financial aid for struggling businesses hit by the COVID-19 coronavirus crisis.
As a consequence of the COVID-19 pandemic, Airbus has decided to “temporarily pause production” at its French and Spanish sites for four days, starting Mar. 17.
IATA expects the global airline industry to need $150-200 billion in various forms of government financial assistance to survive the current COVID-19 crisis, the association’s director general and CEO Alexandre de Juniac said Mar. 17.
Air New Zealand and Qantas are making further major cuts in capacity, suspending most international flights and grounding aircraft in response to the COVID-19 coronavirus pandemic.
LCC Cebu Pacific (CEB) and Philippine Airlines (PAL) will suspend flights as quarantine measures are ramped up across the Philippines following the COVID-19 coronavirus outbreak.
Korean Air’s parent company Hanjin KAL has hit back with regulatory complaints against two shareholders that are attempting to take over management control of the flag carrier.
The other side of the COVID-19 crisis is likely to see the return of high-yield demand and fewer airlines—particularly outside North America, analysts at J.P. Morgan believe.
