Qantas has completed a new round of debt funding, securing $1.05 billion in additional liquidity to strengthen its position as it manages through the Coronavirus outbreak.
The cabinet of Antigua & Barbuda has decided to close the V.C. Bird International airport to all incoming commercial traffic from tonight. To date, there have been no confirmed cases of community spread of the Covid-19 coronavirus in Antigua.
Nearly 900 jets have been added to the stored inventory during the past day, according to data from analytics expert, Cirium. In total, around 7,500 planes are now idle as schedules continue to be cut.
With passenger services all but grounded across Europe, North America and parts of Asia, a number of carriers - including Etihad, AeroMexico and Air Canada - are turning attention to cargo operations.
The decision came after the South African government announced a nation-wide lockdown for 21 days aimed at combatting the spread of Covid-19.
All Korean Air executives will forgo part of their salaries in response to the worsening business environment due to the Covid-19 virus outbreak. The carrier has also outlined other self-rescue measures designed to improve its financial structure.
London City Airport has temporarily suspended all commercial and private flights in the wake of the coronavirus outbreak. Travel demand around the world has seen sharp decline in recent weeks, with virtually all European airlines grounding flights in response.
Having previously pledged to work with carriers to overcome the financial difficulties created by the coronavirus pandemic, chancellor Rishi Sunak has now advised airlines to find other forms of funding.
Oman Air will be suspending all passenger services to and from Muscat from noon on Sunday. No date has been announced for the resumption of services, with cancellations in place until further notice.
Owing to the severity of travel restrictions and the expected global recession, IATA now estimates that industry passenger revenues could plummet $252 billion. The figure is 44 per cent below that for last year.
Wizz Air has grounded around 85 per cent of its fleet and mooted the possibility of a complete suspension of services. While capacity at the low-cost carrier fell by only 30 per cent year-on-year in March, much larger cuts are expected next month.
Travel restrictions imposed by Greece, the EU and other states, as well as the newly adapted measures for the restriction of unnecessary movements in the country, have made operations impossible, Aegean said.