Global airlines are fast running out of cash after cutting capacity by 90% or ev...
- Global airlines are fast running out of cash after cutting capacity by 90% or even grounding entire fleets due to the broad travel restrictions to contain the spread of the coronavirus, calling into question the survival of several firms.
Flight attendants stand at the end of rows of empty seats aboard a Delta flight, as coronavirus disease disruption continues across the global industry, from New York's JFK International Airport to San Francisco, California, U.S., March 17, 2020. REUTERS/Shannon Stapleton The outbreak of the flu-like virus has wiped 41%, or $157 billion, off the share value of the world’s 116 listed airlines, with many using up their cash so fast they can now cover less than two months of expenses, a Reuters analysis showed.
The industry’s main global body, the International Air Transport Association , estimates the sector needs up to $200 billion in government support to help airlines survive. The following charts show airlines’ liquidity ratios, and their changes in cash and debt levels against core earnings.
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