Nordic governments are stepping in to shore up their airlines during the COVID-19 crisis, with Norway offering a NOK6 billion ($595 million) loan guarantee package—up to half of it for LCC Norwegian—and Finland proposing a €600 million ($667 million) guarantee for Finnair.
New Zealand’s government has become the latest to introduce a significant airline support package, agreeing to provide an NZ$900 million ($520 million) loan facility to Air New Zealand.
Cathay Pacific Group’s April and May capacity will be reduced to just 4% of its normal total following plunging demand and a widening list of travel restrictions following the COVID-19 coronavirus pandemic.
Fractional operator Flexjet will ferry pilots and flight crews to assignments using its own aircraft rather than its usual method of relying on commercial carriers.
Three major airline bodies have voiced their dismay at the European Commission’s response to the COVID-19 coronavirus crisis, which has left cash-strapped airlines potentially facing unlimited passenger care and assistance bills.
Compass Airlines will cease operations in early April following capacity cuts by American Airlines that include a significant drop in flying at Los Angeles International Airport.
International services in the Asia-Pacific region are continuing their rapid freefall, with many airlines in the region grounding their remaining international flights and more carriers likely to follow in coming days.
Lufthansa Group plans to make massive cuts to its over €3 billion ($3.4 billion) in planned investments this year, as the airline prepares for an extended period of no or very little demand.
A growing number of airlines in Europe, the Middle East and Africa (EMEA) have temporarily suspended flights as governments grapple to contain the COVID-19 pandemic.
The largest U.S. airlines slashed the bulk of their schedules for the next several months, forced to scale back to once-unthinkable levels by the total collapse in global air travel caused by the COVID-19 pandemic.
