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TOKYO: One notable industry yet to join the Asian equity rebound is airlines, hit especially hard by global restrictions on travel and tourism from the coronavirus pandemic
FRANKFURT: Deutsche Lufthansa AG said it’s close to a multi-billion euro bailout deal that would see the state become its biggest shareholder after the coronavirus punctured a decades-long boom in air travel.
FRANKFURT: Deutsche Lufthansa AG’s management said the need for a multi-billion-euro coronavirus bailout was becoming “urgent”, as talks with the government in Berlin drag on.
BRUSSELS: As the European Union lurches toward one of the worst slumps since the South Sea Bubble burst in 1720, EU regulators have adapted their playbook from more recent history to help salvage companies from the ravages of Covid-19.
Mobile phone applications that trace the new coronavirus could help decide whether business travelers and vacation-goers get to meet clients or visit their favourite beaches this summer. But politics and disagreement over what system to use threatens to thwart that solution.
LONDON: British Airways parent IAG SA has said it is tapping United Kingdom government support to boost liquidity, as the Covid-19 outbreak depresses travel demand for years to come.
It is a sign of Europe’s deepest recession post-war era
LONDON: IAG SA will slash the work force at its flagship British Airways by almost 30% in a painful restructuring aimed at shrinking the airline group for a downturn that could last for years.