Virgin Atlantic and Virgin Australia will need government support if they’re to survive the economic crisis triggered by the coronavirus pandemic, billionaire founder Richard Branson says.
Billionaire founder Richard Branson said Monday that the airlines need money from the UK and Australian governments to keep going"in the face of the severe uncertainty surrounding travel today," including the lack of clarity over how long planes will have to remain grounded. In an open letter to employees, Branson said the survival of Virgin Atlantic and Virgin Australia was important to provide much needed competition to British Airways, an IAG subsidiary, and Qantas .
Lufthansa , one of Europe's biggest airline groups, is permanently reducing the size of its fleet and shutting down one of its low-cost carriers, warning that the aviation sector will take years to recover from the crisis.
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.
The newspaper industry is taking a batteringThe crisis will only accelerate longstanding trends of falling ad revenue and dwindling print sales
Read more »
Slow and Steady Centrism Doesn’t Cut It When Everything Is Going to Hell All at OnceThe moderate-Democrat theory of gradual improvement meets the fact of sudden collapse.
Read more »
Australia to make Google and Facebook pay for news contentGoogle and Facebook will be forced to pay for news content in Australia as the coronavirus pandemic causes a collapse in advertising revenue.
Read more »
'All money is not good': Atlantic City mayor says opening economy too early would be 'senseless'WATCH: 'All money is not good money,' says Atlantic City Mayor Small. 'Our economy will rebound. It would be senseless to open up the economy and let people come here from all over ... in our casinos, in our businesses, and this virus isn't under control.'
Read more »
Kobe Helicopter Crash Victims' Families Sue for Wrongful DeathTwo more families are suing Island Express Helicopters for wrongful death after their loved ones perished.
Read more »