Airline SAS asks employees to take a 20% pay cut
Airline SAS has invited unions to discuss a 20% work and pay cut for all employees as it fights to mitigate the effects of a slump in demand due to the coronavirus outbreak, it said on Tuesday.
Amid Saudi-Russian oil price war, other OPEC states sound alarm
While OPEC’s de facto leader Saudi Arabia trades blows in a war for market share with Russia after their three-year pact to cut oil supplies collapsed last week, other OPEC states are already sounding the alarm over plunging oil prices.
Trump presses ‘pathetic’ Fed to cut rates more aggressively
President Donald Trump on Tuesday lashed into the U.S. Federal Reserve and its chairman Jerome Powell, calling the institution “pathetic, slow moving” and saying it should bring U.S. interest rates down to the level of “competitor nations.”
China urges Tesla to keep products consistent as buyers complain about computers
China’s industry ministry said on Tuesday it has urged Tesla Inc to keep its China-made vehicles consistent after some Chinese customers complained the U.S. electric vehicle maker put less advanced computer chips in their cars.
EU suspends aviation slots rule as coronavirus hammers airlines
The European Union will suspend a rule requiring airlines to run most of their scheduled services or else forfeit landing slots, to give carriers some breathing space as the coronavirus crisis deepens, EU chief Ursula von der Leyen said on Tuesday.
Coronavirus case at Apple’s Irish HQ, Trinity College goes online
A worker at Apple’s European headquarters in Cork in Ireland has tested positive for coronavirus, one of 24 cases reported so far in the country where its oldest university, Trinity College, has been forced to move all lectures online.
EU proposes dropping airline slot rule in response to coronavirus
The European Commission has proposed temporarily dropping the rule that airlines operate 80% of scheduled services to retain landing slots as the coronavirus outbreak pummels the global aviation industry.
U.S. airlines ditch 2020 forecasts, slash flights and costs on virus hit
Leading U.S. airlines on Tuesday unveiled more sweeping capacity cuts and cost-saving measures in response to a sharp decline in demand over the spreading coronavirus, including a $2 billion capital raising by United .
Ryanair lowers 2020 traffic target as Italy imposes lockdown
Ryanair on Tuesday said it will cancel almost all of its flights to and from Italy for the next month, forcing it to cut its full year passenger forecast to end-March by 3 million.
Airlines strive to stave off calamity as coronavirus locks down Italy
Airlines around the world sank deeper into crisis on Tuesday as the worsening coronavirus epidemic and Italy’s lockdown hammered passenger numbers, forced the cancellation of thousands of flights and led to the delaying of plane orders.
