Southwest Airlines cutting more than 40% of flights in May as demand sags
Southwest Airlines Co said Tuesday it will cut more than 40% of flights from May 3 through June 5 amid a sharp decline in travel demand from the coronavirus pandemic.
Southwest Airlines Co said Tuesday it will cut more than 40% of flights from May 3 through June 5 amid a sharp decline in travel demand from the coronavirus pandemic.
American Airlines Group Inc is set to sharply increase the number of jets it is planning to retire beyond its announced plans as it accelerates a fleet transformation to respond to the coronavirus crisis, people familiar with the matter said.
Global stock markets slid on Tuesday as investors continued to assess the economic damage from the coronavirus pandemic, leaving the MSCI benchmark of world equities on pace to finish its worst quarter since the financial crisis of 2008.
Due to the COVID-19 pandemic, college-bound high school seniors are giving their state schools a second look. But not all public colleges are the same.
Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks on stabilising energy markets, with benchmarks climbing off 18-year lows, though the coronavirus-related demand hit capped gains.
Wall Street was set to open lower on Tuesday, with the S&P 500 headed for its worst first quarter since 1938 as evidence grew of the scale of the damage caused by the collapse in oil prices and business activity due to the coronavirus.
Last week's record-setting U.S. jobless claims number will be quickly surpassed, economists and state officials predict, as local labor offices digest a pile of pending applications, and the new stimulus bill extends benefits to the self-employed.
Furniture giant IKEA is producing face masks and other protective gear for hospitals, joining a growing list of companies branching out of their normal business areas to help meet equipment shortages in the fight against coronavirus.
The International Monetary Fund said on Tuesday its board approved a new three-year framework for bilateral borrowing agreements, ensuring that its full $1 trillion lending capacity will be maintained as member countries battle the coronavirus pandemic.
British aero-engine maker Rolls-Royce will likely have to slash its 2020 cash flow target after airline customers parked hundreds of planes due to the coronavirus pandemic, analysts said.
Goldman Sachs said on Tuesday that the U.S. second quarter economic decline would be deeper than it had previously forecast and unemployment would be higher, citing anecdotal evidence and "sky-high jobless claims numbers."
Ford Motor Co said on Tuesday it was postponing its plan to restart production at its North America plants due to safety concerns for its workers amid the coronavirus pandemic.
Walt Disney Co's video streaming service, Disney+, will launch in India on April 3 through its local partner Hotstar, the Economic Times reported https://economictimes.indiatimes.com/magazines/panache/amidst-lockdown-disney-plus-makes-it-way-to-india-users-can-start-streaming-from-april-3/articleshow/74913298.cms on Tuesday.
The U.S. Transportation Department on Tuesday proposed minimum flight requirements for passenger airlines receiving aid from the government's $50 billion grant and loan fund.
Global airlines warned on Tuesday that many carriers may not survive a record cash squeeze in the second quarter, as revenues and traffic plunge because of the coronavirus crisis.