Business

Airlines headed for $84 bln net loss in 2020: IATA

International airlines are in line to make a combined net loss of more than $84 billion this year in the wake of the coronavirus crisis which has decimated air travel, the International Air Transport Association said Tuesday.

Business

Latin America's stricken airlines facing long haul to recovery

Latin America's beleaguered airlines will take up to three years to recover losses due to the coronavirus pandemic, and in the meantime desperately need government help, according to experts surveying the damage to the industry.

Business

Airlines given $123 bn in state aid: industry

Governments have provided airlines $123 billion to help weather the coronavirus storm, the global aviation industry said Tuesday, warning though that the assistance was adding to surging debt in the industry.

Business

Aviation industry opposes leaving middle seat empty

The global aviation body said Tuesday that the risk of catching COVID-19 on a plane was low and there was no need to leave the middle seat empty once the industry takes off again.

Business

Boeing to cut 10% of work force as 1Q revenue, profit slide

Boeing outlined plans Wednesday to cut 10% of its workforce, slow production of new planes and raise more cash to survive a downturn in business that started with the grounding of its best-selling jet and has accelerated ...

Business

Air traffic plunges 53% in March: IATA

World air traffic suffered a massive drop of more than half in March compared with the same period last year thanks to coronavirus-related travel restrictions, the airline industry's trade body said Wednesday.

Business

Aviation industry warns of cargo capacity shortfall

The global aviation industry warned Tuesday of a severe cargo capacity shortage as airlines around the world slash jobs and suffer plunges in profits due to the coronavirus crisis.

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