Coronavirus could bankrupt most airlines by end-May, warns consultant

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Coronavirus could bankrupt most airlines by end-May, warns consultant
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UK airlines called on the British government to help ensure their survival. FMTNews Covid19

People walk by a departures monitor at the Rome Leonardo da Vinci International Airport.

United said it would cut corporate officers’ salaries by 50% and reduce flight capacity by about 50% in April and May, with deep capacity cuts also expected into the summer travel period. “We call on Congress and the White House to take all measures available to protect the health and payroll of American workers,” said Sara Nelson, president of the Association of Flight Attendants-CWA, which represents 50,000 US flight attendants at 20 airlines, including United.

UK airlines called on the British government to help ensure their survival, while Germany’s Tui AG and Scandinavian carrier SAS said they would suspend the vast majority of operations due to the Covid-19 outbreak and apply for government support. “We are now accepting that for the coming months at least Air New Zealand will be a smaller airline requiring fewer resources, including people,” Air New Zealand Chief Executive Greg Foran said in a statement.Qantas Airways Ltd said it would be making fresh cuts to its flying schedule beyond the 25% reduction in international capacity announced last week due to the new travel restrictions.

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