Exclusive: U.S. airports seek $10 billion in government assistance over travel demand collapse – sources
U..S. airports are seeking $10 billion in U.S. government assistance to help offset losses incurred by the sharp drop in travel due to coronavirus, two people briefed on the matter said.
Boeing stock wipes out gains made during ousted CEO Muilenburg’s term
Boeing Co’s shares on Monday erased all gains recorded during ousted CEO Dennis Muilenburg’s tenure due to the economic fallout of the coronavirus pandemic and uncertainty around the 737 MAX’s return to service, which also led to a credit rating downgrade by S&P Global Ratings.
U.S. airlines seek $50 billion government bailout after coronavirus outbreak
Major U.S. airlines sought a government bailout of more than $50 billion as the White House is urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand sparked by the coronavirus pandemic.
Oil slumps below $30 a barrel as coronavirus spreads, OPEC rancor remains elevated
Oil prices fell below $30 a barrel on Monday after the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.
Developing nations may lose up to 85% of oil and gas income this year: IEA, OPEC
Developing nations’ oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions persist, the International Energy Agency and OPEC said in a rare joint statement on Monday, citing recent IEA analysis.
Latin America’s largest airline to cancel 90% of its international flights
LATAM Airlines Group, South America’s largest carrier, on Monday canceled 90% of its international flights as demand collapsed and countries shut down borders due to the coronavirus outbreak, leaving the region increasingly isolated.
Exclusive: Airbus draws up contingency plan to slow or halt output – sources
Airbus has drawn up contingency plans to slow or stop production if France is placed under a drastic lockdown due to coronavirus, two people familiar with the matter said.
Starbucks halts dine-in service, focuses on ‘to go’ in U.S., Canada
Starbucks Corp closed its dine-in areas for at least two weeks at its U.S. and Canadian stores and shifted completely to “to go” service, as restaurants look to curb the rapid spread of the coronavirus outbreak.
Uber Eats waives delivery fee for independent restaurants as virus spreads
Uber Technologies Inc’s food delivery business, Uber Eats, said on Monday it would waive delivery fee for independent restaurants across the United States and Canada.
U.S. airlines urgently need $50 billion in grants, loans – letter
A group representing major U.S. airlines said the industry needs $50 billion in grants and loans to survive the dramatic falloff in travel demand from the coronavirus outbreak.
