'Single biggest shock': Airlines, airports battle Covid-19 cash crunch

Topics Coronavirus | Airports | airlines

Airlines and airport operators said they are taking steps such as suspending dividends, selling and leasing back airplanes and flying cargo on empty passenger jets as they grapple with a cash crunch and plunging demand caused by the coronavirus outbreak.

"It's now fair to call this the single biggest shock that global aviation has ever experienced," Qantas Airways Ltd Chief Executive Alan Joyce said in a memo to the airline's 30,000 staff on Tuesday. The Australian carrier announced plans to cut international capacity.....

This article is no longer available in our repository.

There could be multiple reasons for this.