Several U.S. airlines on Friday applied for government funds to keep paying workers, but say they still need more cash as they face an existential crisis that doesn't look likely to abate soon. Major airlines including American Airlines Group Inc. (AAL), Delta Air Lines Inc. (DAL), United Airlines Holdings Inc. (UAL), JetBlue
Airways Corp. (JBLU) and Southwest Airlines Co. (LUV) submitted applications for the government grants authorized under the $2 trillion stimulus package passed last week.
Airlines Apply for Government Aid but Say Outlook Is Dire, "at 1925 ET, incorrectly stated Delta Air Lines Inc. (DAL) expects second-quarter revenue to fall $90 million in the seventh paragraph. It expects revenue to be down 90%. (END) Dow Jones Newswires 04-03-20 2013 ET Copyright (c) 2020 Dow Jones& Company, Inc..
Several U.S. airlines on Friday applied for government funds to keep paying workers, but say they still need more cash as they face an existential crisis that doesn't look likely to abate soon. American Airlines Group Inc. (AAL), Delta Air Lines Inc. (DAL), United Airlines Holdings Inc. (UAL), and JetBlue Airways Corp. (JBLU) submitted applications for the government grants authorized under the $2 trillion stimulus package passed last week. Southwest Airlines Co. (LUV) has previously said it would apply.
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.
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.
* International seat capacity at 23% of 2019 levels - ForwardKeys. * Half the world's airplane fleet in storage - Cirium. * Planemakers considering major widebody production cuts - sources. By Jamie Freed and David Shepardson.
A full airline industry recovery from the coronavirus looks prolonged at best, analysts said, as new data showed international seat capacity had fallen to 23% of last year's levels and around half the world's airplane fleet is in storage.
* International seat capacity at 23% of 2019 levels - ForwardKeys. * Half the world's airplane fleet in storage - Cirium. * Planemakers considering major widebody production cuts - sources. By Jamie Freed.
British Airways is in talks with its union about a plan to suspend around 32,000 staff in response to the coronavirus pandemic, a person familiar with the situation said. The British flag carrier has cut flights and warned it will need to cut jobs to survive the outbreak as the battered aviation sector frantically seeks to cut costs.
Big carriers like American Airlines are getting all the attention for the unprecedented damage that Covid-19 is causing airlines. Most of the action, though, may end up happening at the regional level. Congress approved the use of $58 billion to help passenger carriers avoid mass bankruptcies.
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