American Airlines Group Inc on Saturday said it will implement a phased suspension of nearly all long-haul international flights starting March 16, amid reduced demand and travel restrictions due to the ongoing coronavirus outbreak.
Between March 16 and May 6, American will reduce its international capacity by 75% on a year-over-year basis, it said in a statement, adding the changes will result in the airline parking nearly its entire widebody fleet. The airline also anticipates its domestic capacity in April will be reduced by 20% on a year-over-year basis. …read more […]
(Bloomberg) — With the coronavirus outbreak rewriting the rules of the global economy, the Federal Reserve is under increasing pressure to keep the flow of support coming this week.The U.S. central bank is facing calls to slash borrowing costs to zero at or before Wednesday’s decision, adding to its attempt last week to buttress free-falling markets with extra bond purchases. The Bank of Japan is also expected to act, after a week that saw institutions around the world cut rates and unleash a raft of extraordinary targeted measure to keep economies afloat amid the spreading pandemic.What Bloomberg’s Economists Say…“Given the …read more […]
It’s a mixed start to the day for the majors. Failure to break back through early highs could well lead to another sell-off… …read more […]
United Airlines Co said late Saturday it would begin cutting flights to the United Kingdom after Washington expanded travel restrictions to Britain and Ireland, and Southwest Airlines moved toward flight cuts as the coronavirus outbreak sapped demand.
Apple Inc said it is closing all its retail stores, except those in Greater China, for the next two weeks to minimize the risk of coronavirus transmission, a move that was followed by several U.S. retailers on Saturday.
Delta Air Lines plans to scale back more flights after the United States expanded travel restrictions to Britain and Ireland, it said, and Southwest Airlines was moving toward its first flight cuts as the spreading coronavirus saps demand.
Britain told manufacturers to ramp up the country’s production of ventilators and ordered private hospitals to prepare for an overspill of patients from the public health service as the death toll from coronavirus grew on Saturday.
Apple Inc said it is closing all its retail stores, except those in Greater China, for the next two weeks to minimize the risk of coronavirus transmission.
Virgin Atlantic’s chairman Peter Norris will write to British Prime Minister Boris Johnson on Monday saying the country’s airline industry needs emergency government support worth 7.5 billion pounds ($9.20 billion) or risks the loss of tens of thousands of jobs, Sky News reported on Saturday.
Major sports events around the world that have been hit by the coronavirus outbreak:
Southwest Airlines , one of the few U.S. airlines still flying a full schedule even as the spreading coronavirus has sapped demand, said on Saturday it was “seriously considering” cutting flights in the short term.
Southwest Airlines , one of the few U.S. airlines still flying a full schedule even as the spreading coronavirus has sapped demand, said on Saturday it was “seriously considering” cutting flights in the short term. Southwest spokeswoman Michelle Agnew said the company would monitor demand for additional reductions after a first round of cuts, which one source familiar with the matter said could be announced by Wednesday. …read more […]
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