Airlines Slash Flights Across Globe as Demand Evaporates
INTERNATIONAL – Airlines worldwide will shrink operations to only a trickle of flights, severing global links and putting hundreds of thousands of jobs at risk as they fight to preserve cash and survive the coronavirus pandemic.
British Airways owner IAG SA will slash capacity for April and May by at least 75% amid the collapse in demand and government restrictions aimed at slowing the disease. Partner American Airlines Group Inc. will cut international long-haul flights by the same degree in the biggest reductions by a U.S. carrier.
Ryanair Holdings Plc and Air France-KLM announced even deeper cuts at 80% and 90% respectively, and the Irish company said its entire fleet may be grounded. Paris’s two biggest airports plan to shutter terminals as major travel hubs around the world stand almost empty, while TUI AG, the largest vacation firm, will suspend the bulk of its package holiday, cruise and hotel operations.
Source: iol.co.za
