Cathay Pacific Airways, which was one of the earliest airlines to be heavily affected by the COVID-19 pandemic, has moved to improve its liquidity situation with the sale and leaseback of six Boeing 777-300ERs.
Several Middle East nations have severely limited, or entirely banned, commercial air services as they struggle to contain the spread of the COVID-19-causing coronavirus.
By the end of May-2020, most airlines in the world will be bankrupt. Coordinated government and industry action is needed—now—if catastrophe is to be avoided.
Following increased government travel restrictions and massive drop in demand because of the rapidly spreading COVID-19 virus, Lufthansa subsidiary Austrian Airlines and Ryanair subsidiary Laudamotion have decided to suspend all operations from Vienna this week.
Korean Air has begun using grounded Airbus A330 passenger aircraft for some cargo-only flights and intends to extend this initiative to more destinations.
Italy plans to nationalize Alitalia in a bid to save the already-bankrupt airline as part of a €25 billion ($27.8 billion) economic support package aimed at helping the country recover from the COVID-19 coronavirus crisis, Italian media reported.
U.S. airlines stripped their international schedules to skeletal levels over the weekend, parking their widebody fleets and signaling difficult decisions ahead over reining in labor costs.
China Southern Airlines has canceled plans to increase services to the U.S., following intensification of Chinese entry controls to prevent reimportation of the novel coronavirus, said several sources close to the airlines.
Air France-KLM, EasyJet, International Airlines Group and Ryanair all said they will cut most of their flights in the coming days as travel restrictions push demand for air transport close to zero.
SAS Scandinavian Airlines has become the latest airline deciding to stop almost all of its flights Mar. 16 and will temporarily lay off 90% of its workforce, the airline said Mar. 15.
Ryanair subsidiary Laudamotion is working to temporarily reduce work hours of its 900 employees to cope with the dramatic demand drop as a result of the COVID-19 outbreak.
The U.S. Transportation Department (DOT) issued a final order Mar. 13 denying antitrust immunity (ATI) to the proposed joint-venture (JV) between Hawaiian Airlines and Japan Airlines (JAL), casting doubt on the future of the two carriers’ planned alliance.
American Airlines and Delta Air Lines announced massive new international capacity cuts to Europe and South America, following U.S. President Donald Trump’s decision to bar most inbound travel from Europe over concerns about the spread of COVID-19.
Brazilian carrier Azul is reducing international capacity by 20-30% to combat falling demand, driven by currency devaluation and the spread of the COVID-19 coronavirus.