Airline revenues to dive by 55%: IATA
Airline passenger revenues are set to plunge by 55 per cent, or $314 billion, in 2020 due to the coronavirus pandemic, the International Air Transport Association said. It marks a sharp worsening of the forecast for the aviation industry, as just 3 weeks ago the decrease was predicted to be 44 per cent, or $252 billion.
IPL ‘postponed’, but no official word yet
The BCCI told IPL franchises that the event stands “postponed indefinitely” after the lockdown
was extended. While the development hasn’t been officially announced as yet but it is learnt that the BCCI has reached out to all the stakeholders that the event stands “postponed and not cancelled”.
Oil slides over 6% as producer cuts fail to banish demand fears
Oil prices fell over 6 per cent on Tuesday as investors doubted that record Opec+ supply cuts would soon balance markets as demand plunges due to the coronavirus pandemic. Brent crude was trading $2.01 or 6.33 per cent down at $29.73/bbl at 11:13 pm IST. Global oil producers worldwide are expected to cut overall output by roughly 19.5 million barrels per day, or nearly 20 per cent of world supply.