Airlines facing what official calls 'deepest crisis ever'
Source: Reuters
BUSINESS NEWS APRIL 1, 2020 / 9:26 AM / UPDATED 2 HOURS AGO
LONDON (Reuters) - As the novel coronavirus continues to spread, commercial flights have all but stopped. The situation is so dire that the head of the trade group representing the world’s airlines called the last few months “its deepest crisis ever.”
A Reuters analysis of data from FlightAware, which tracks air traffic in real-time, reveals a series of sequential and precipitous declines in flights in four key regions as officials sought to contain the outbreak.
From March 24 to March 30, FlightAware tracked about 280,000 flights, down almost 500,000 from the same week a year earlier.
In late March, the International Air Transport Association estimated lost revenue from the coronavirus will exceed $250 billion in 2020 and urged governments to offer immediate financial support to the industry.
The transport association said today’s crisis is far worse and more widespread than after 9/11, when U.S. airlines lost approximately $19.6 billion in revenue in 2001-2002. After the terrorist attacks, the U.S. government provided $15 billion to airlines in compensation and loan guarantees.
Reporting by Reade Levinson in London. Additional reporting by Tracy Rucinski in Chicago, Laurence Frost in Paris and Jamie Freed in Sydney. Edited by Blake Morrison and Janet Roberts.
Read more: https://www.reuters.com/article/us-health-coronavirus-flights/airlines-facing-what-official-calls-deepest-crisis-ever-idUSKBN21J5NC
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Data from FlightAware shows flights by freight and package carriers such as Atlas, Polar, FedEx and UPS arriving in and departing from the United States initially declined during the first week of February 2020. The drop, which correlated to the Hubei Province lockdown, “shows how important China is to the world of international commerce,” said Andrew Charlton, an industry analyst.
Shortly thereafter, however, U.S. cargo flights rebounded to previous levels, the data shows.
Because passenger jets transport about half of all air cargo carried worldwide, the grounding of those planes has increased demand for freighters. In response, some commercial airlines such as American, Delta and Virgin Atlantic are using passenger jets solely for shipping cargo.
My wife's sister just flew down to Florida and there was grand total with a flight crew on AA flight of 8.....................and she used her frequent fliers miles to go ..........................
= new reply since forum marked as read
Sell the stock they bought back with the previous tax cuts.
anything from Wall Street, had to sell off due to bankruptcy, got $2.00 on the share, most individuals that were hired after 1989, were furloughed, and then when they merged with Continental they were using dual contracts and hiring people off the street under the Continental contract, and so those under the UA had some individuals did get a recall until 15 years later.....................
