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Tag Archives: Airline industry bailout

Airlines Plead for Mandatory Virus Tests to Save the Industry

A traveler leaves a Covid-19 testing point inside Athens International Airpor

IATA sees no other way to protect industry without vaccine | Quarantines are ‘killing’ the aviation market, de Juniac says By Christopher Jasper for Bloomberg – Universal coronavirus tests for departing passengers offer the only realistic hope of reviving demand for flights in the absence of a vaccine, the International Air Transport Association said. The 100% adoption of rapid antigen tests, which should …

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Airline CEOs plead with White House to avert massive looming U.S. job cuts

Flanked by other airline executives, American Airlines CEO Doug Parker speaks to reporters after meeting with White House Chief of Staff Mark Meadows in Washington, U.S., September 17, 2020. REUTERS/Kevin Lamarque

REUTERS, SEPTEMBER 17, 2020 WASHINGTON (Reuters) – White House Chief of Staff Mark Meadows met with major airline chief executives on Thursday as the industry braces for thousands of job cuts in two weeks, and urged lawmakers to embrace a $1.5 trillion coronavirus aid package proposed by a bipartisan congressional group and endorsed by President Donald Trump. Meadows told reporters …

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Airlines Bleed Money as Jets Half Empty, Long-Haul Still Grounded

Empty rows of airplane seats

BLOOMBERG, SEPTEMBER 1, 2020 July passenger traffic reached just 20% of 2019’s levels | Signs of domestic rebound fade outside China, IATA says By Richard Weiss and Christopher Jasper for Bloomberg – Airlines seeking to build up flights after idling their fleets at the height of the coronavirus outbreak are bleeding more cash as jets fly half empty and the most lucrative inter-continental …

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Buffett’s Grim View of Air Travel. “Vaccine Only Solution” Takes $10B Loss

Warren Buffet. Telephone.

BLOOMBERG, AUGUST 8, 2020 By Katherine Chiglinsky for Bloomberg – Warren Buffett’s dire airline predictions have hit close to home. After dumping his stakes in airlines earlier this year with a warning that the pandemic had unleashed fundamental change on that business, Buffett’s own Berkshire Hathaway Inc. took a roughly $10 billion impairment charge tied to Precision Castparts, its massive maker of plane parts. A vaccine …

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Daily passenger flights in China rebound to 80% of pre-COVID levels

People wearing face masks . Airport terminal

REUTERS, JULY 24, 2020 Beijing is also allowing more international flights, but requires all arrival passengers to provide negative COVID-19 test results before boarding. BEIJING (Reuters) – The number of daily passenger flights in China has rebounded to 80% of pre-coronavirus levels, China’s aviation regulator said on Friday, as the aviation industry recovers from the plunge in travel demand caused …

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U.S. Airlines Face End of Business Travel as They Knew It

Airplane. Ruway. Two people in hazmat suits.

BLOOMBERG, JULY 20, 2020 Impact of virus threatens industry’s engine of sales, profit | Road warriors turn to video conferences while CEOs eye budgets By Mary Schlangenstein, Esha Dey, and Brian Eckhouse for Bloomberg U.S. airlines hammered by the catastrophic loss of passengers during the pandemic are confronting a once-unthinkable scenario: that this crisis will obliterate much of the corporate flying they’ve relied …

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IATA pleads for more help for airlines after U.S. offers $58 billion aid

AIrplanes lined up on a parking space at an airport. Aerial view.

REUTERS, March 26, 2020 DUBAI/SINGAPORE (Reuters) – The International Air Transport Association (IATA) on Thursday urged the world’s major economies to act quickly to prevent irreversible damage to an airline industry that has seen demand crushed by the coronavirus crisis. A number of governments have already stepped in to help airlines hammered by the virus-induced travel slump, with the United …

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