Airlines are set to lose $84 billion as the coronavirus pandemic reduces revenue by half to mark the worst year in the sector's history, the International Air Transport Association forecast on Tuesday. With most of the world's airliners currently parked, IATA said revenue would likely fall to $419 billion from $838 billion last year.
* Includes 7 bln euros already awarded to Air France. * Firms will help finance 1 bln euro investment fund. * Plan aims for carbon neutral airplane by 2035. By Tim Hepher. France launched what it billed a 15-billion-euro support plan for its aerospace industry on Tuesday, accelerating research on a green jetliner and warning 100,000 French jobs could be lost due to the coronavirus crisis.
- U.S. President Donald Trump on Friday said Warren Buffett, often regarded as the world's greatest investor, made a mistake by recently exiting a multi-billion dollar investment in the airline industry.
* U.S. new weekly jobless claims drop below 2 million. * J.M. Smucker (SJM) falls on weak sales forecast for 2021. * American Airlines (AAL) up on plans to boost U.S. flights in July. * Charles Schwab (SCHW), TD Ameritrade (AMTD) rise as DOJ approves deal. * Indexes: Dow off 0.05%, S&P 500 down 0.09%, Nasdaq up 0.22% By Devik Jain and Shreyashi Sanyal.
* MOODY'S SAYS GLOBAL AIRLINE SECTOR UNLIKELY TO FULLY RECOVER BEFORE 2023, FACES DEEP STRUCTURAL CHANGE. * MOODY'S, ON GLOBAL AIRLINE SECTOR, SAYS AIR PASSENGER DEMAND WILL REMAIN SEVERELY DEPRESSED IN 2021, WILL NOT SEE SUBSTANTIAL RECOVERY BEFORE 2023. * MOODY'S, ON GLOBAL AIRLINE SECTOR, SAYS MANY AIRLINES HAVE IMPROVED LIQUIDITY, BUT AT THE COST OF RISING DEBT BURDENS.
RateLinx, a leading supply chain, and logistics visibility and analytics platform, announced today a new partnership with ProcessWeaver, a global leader of integrated SAP shipping solutions for businesses worldwide. We are excited to begin this collaboration with ProcessWeaver, says Shannon Vaillancourt, Founder of RateLinx.
Data science breakthrough enables LTL shipment tracking, with 6x more accurate estimated arrival times FourKites®, the #1 real-time supply chain visibility platform, today introduced Dynamic ETA for LTL.
Investors looking to bet on the recovery of the global airline industry have poured hundreds of millions of dollars into a previously small exchange-traded fund over the past three months, bringing its assets under management to almost $1 billion. Global Jets ETF held around $33 million in assets in early March, according to FactSet, but now holds about $950 million. The fund has had net inflows for 62 consecutive trading days, according to FactSet, despite its price falling...
Canada is closely monitoring the slumping airline industry and extended a ban on large cruise ships to Oct. 31 to help prevent the spread of the coronavirus, Transport Minister Marc Garneau said on Friday. "We are monitoring the situation from day to day... Due to Canada's size and geography, "We expect and need an airline industry in this country," he said.
The Norwegian government proposes spending 3.6 billion Norwegian crowns on investments to make its economy greener as it gradually emerges from coronavirus lockdowns, the government said on Friday. "The crisis we are now in hasn't made the need for transformation smaller - it has increased it," Prime Minister Erna Solberg told a news conference.
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