Most of the world's airlines could be bankrupt within 2 months because of the coronavirus
The rapid spread of the coronavirus has brought the airline industry to its knees, and a major consulting firm is warning that more than half of the world's airlines could go bankrupt within months without action to save it.
"As the impact of the coronavirus and multiple government travel reactions sweep through our world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants," the CAPA Centre for Aviation, based in Australia, said Sunday night as yet more airlines slashed long-haul and intra-European service.
Since the start of the year, airlines have seen their market values decimated alongside the spread of the coronavirus, with many seeing their stock prices decline by more than 50%. The lull in bookings is on track to outpace the slump following the terrorist attacks of September 2001, some Wall Street analysts have warned.
As of Monday morning, more than 169,000 people worldwide had been sickened — with 3,774 of those cases in the United States.
https://news.yahoo.com/most-worlds-airlines-could-bankrupt-130508470.html
= new reply since forum marked as read
