Southwest posts first quarterly loss in nine years and warns of more coronavirus clouds
Southwest Airlines Co posted on Tuesday a $94 million net loss in the first quarter, its first quarterly loss in nine years, due to the coronavirus pandemic and said it sees no major improvement in air travel in the second quarter.
Berlin government, Lufthansa pursue rescue deal: sources
Lufthansa and the Berlin government are pursuing a 9 billion euro ($9.76 billion) rescue package for the airline, company and government sources said on Tuesday, but gave no timing for an agreement after a report overnight said the deal was complete.
Ford investors keen for details on when automaker will restart U.S. operations
Investors already know how the coronavirus outbreak has hurt Ford Motor Co’s bottom line, so when the automaker releases first-quarter results on Tuesday they will focus on how and when Ford plans to restart North American operations.
March global sales slump spells trouble ahead for Japan’s carmakers
Global vehicle sales by Japanese automakers dropped by 34% in March when the coronavirus outbreak spread worldwide, and are set to fall further in the months ahead as the crisis continues.
Exclusive: Aurubis to win EU approval for Metallo takeover – sources
Europe’s biggest copper smelter Aurubis is set to win EU antitrust approval for its planned 380 million euro ($412 million) acquisition of Belgian-Spanish metal recycling group Metallo, people familiar with the matter said on Tuesday.
Wealth revamp helps UBS to 40% net profit rise in first quarter
The world’s largest wealth manager, UBS , reported a 40% rise in quarterly profit on Tuesday, with its core business enjoying its best three months since 2008, thanks to a restructure and rich clients reshuffling portfolios to respond to the coronaviru…
Norwegian Air slightly amends terms of conversion plan after talks with bondholders
Norwegian Air , the budget carrier that is fighting for its survival, has made some amendments to the terms of its debt-to-equity conversion plan in response to demands from bondholders, it said on Tuesday.
Another day, another 20% plunge in WTI oil
Another big fall in oil prices dragged hordes of petrocurrencies under on Tuesday but even an HSBC warning of mounting bad credit and a near 80% plunge in BP’s profits could not keep stock markets down for long.
No rescue deal yet for German airline Lufthansa: sources
Lufthansa has not yet agreed on a 9 billion euro ($9.73 billion) rescue package, company and government sources said on Tuesday, following a report overnight that said an agreement was complete.
Lufthansa CEO warns of too much government influence: Die Zeit
Lufthansa would be hard to steer if governments had too much influence on the company, its CEO was quoted as saying by German weekly Die Zeit on Tuesday, as the airline is struggling with the impact of the coronavirus pandemic.
