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Passenger Air Travel

Reuters | Equities.com |

Airlines and contractors face a 5pm ET deadline to tap the government for up to $32 billion in payroll grants.


Stephen L Kanaval | Equities.com |

IATA estimated that around 8,500 passenger aircraft have been grounded, which accounts to 1/3 of the total passenger fleet around the world.


Stephen L Kanaval | Equities.com |

Volkswagen AG also recently announced plans for about 80,000 employees to work short-time.


Reuters | Equities.com |

The airline said revenue is expected to decline by $2 billion in March from a year earlier, as demand drops amid the spreading coronavirus.


Reuters | Equities.com |

They also seek a package of $8 billion, equally divided in grants and loans for cargo carriers.


Stephen L Kanaval | Equities.com |

JP Morgan explained in a note to clients that sticking with Boeing was no longer possible.


Reuters | Equities.com |

The ban on westward travel across the Atlantic cuts into a large share of long-haul profits.


Reuters | Equities.com |

Meanwhile, United Airlines announced it had raised $2 billion in financing.


Stephen L Kanaval | Equities.com |

The company said it thinks revenue per available seat mile, a key sales indicator for airlines, could decrease year-over-year in the first quarter.


Reuters | Equities.com |

The airline is cutting US & Canadian flights by 10% and international flights by 20%.



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