Global airline capacity may fall up to 35% this year, hamper credit quality of m...
FILE PHOTO: Air travelers grab carry-on luggage behind rows of empty seats aboard a Delta flight, as coronavirus disease disruption continues across the global industry, from New York's JFK International Airport to San Francisco, California, U.S., March 17, 2020. REUTERS/Shannon Stapleton
For some airlines, the capacity cuts could be as drastic as 40% to 75% or more in the second quarter and it could worsen their credit quality, if the health crisis runs beyond June 2020, Moody’s said. The global travel industry has been upended as tourists stay indoors to stop spread of the highly contagious virus. Some estimatesMoody’s, which revised its outlook for the airline industry to “negative” earlier this month, said fuel hedging will be an additional burden for some airlines as oil prices too have crashed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
35-Year-Old Soccer Star Peter Whittingham Dies from Head InjuryPeter Whittingham leaves behind a wife, Amanda, and a young son
Read more »
Soccer Star Peter Whittingham Dead At 35 After Head InjuriesPeter Whittingham has tragically passed away after suffering head injuries from an accidental fall.
Read more »
Disney Suspends Global Weekend Box Office Reporting; Don’t Expect A Top 10 Chart For A WhileDisney, which has had the No. 1 movie over the last two weekends with Pixar’s Onward, as the coronavirus crisis has gripped the nation and shut down movie theaters nationwide, has announced i…
Read more »
Analyst anticipates 'worst crisis since 1929' amid fears of a global recessionFinancial markets are facing their worst crisis since 1929, a veteran analyst has told CNBC, as top economists downgrade their forecasts to point to an impending global recession.
Read more »