The bosses of Ryanair and British Airways-owner IAG expect the drop-off in travel demand to stabilize in the coming weeks, before bookings return for the summer, they said at a conference on Tuesday.
European airlines warned on Tuesday the worst is still to come in economic damage to the industry from the rapid spread of coronavirus Covid-19.
The European Central Bank is preparing possible measures to provide liquidity to businesses hit by the economic fallout of the coronavirus outbreak, three sources familiar with the discussion told Reuters.
OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus.
Daimler's car production in China is stable and the supply chains are secure but it is too early to forecast the impact of the coronavirus outbreak on the German carmaker's sales, Mercedes-Benz's sales chief said on Monday.
OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus.
Kuwait's oil minister said on Tuesday he is optimistic about the outcome of OPEC meetings this week and continued cooperation among OPEC+ countries, Kuwait state news agency KUNA reported.
A recovery in world stock markets and oil prices picked up pace on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus.
As news broke of more cases of coronavirus spreading across the United States, T-Mobile had a novel response to the threat: fewer hugs, kisses or high-fives.
Bank of England Governor Mark Carney said policymakers around the world were working on a "powerful and timely" response to the economic hit from coronavirus which has raised fears of a new global recession.
The Kremlin told reporters on Tuesday it would not say whether Moscow was ready to make additional oil output cuts as part of the cooperation between OPEC and non-OPEC countries and said it was necessary to wait for their meeting later this week.
Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
South Korea's Hyundai Motor said on Monday its sales fell 13% on-year to 275,044 vehicles globally in February amid a coronavirus outbreak that disrupted supply of parts from China.
Asian shares regained a measure of calm on Monday as markets bounced after a searing sell-off last week and as investors pinned hopes on a likely coordinated global monetary response to help soften the economic blow of the coronavirus outbreak.
The hit to U.S. corporate earnings from the coronavirus epidemic is getting harder and messier to predict.