Flybe’s request for £100M state loan set to be rejected
Flybe’s request for a £100M government loan is set to be rejected, leaving Europe’s biggest regional airline on the edge of collapse. On another tumultuous day for the airline sector, Virgin Atlantic (which co-owns Flybe) also revealed that it was slashing executives pay by up to a fifth as part of a package of measures to help it cope with the impact of coronavirus. Read the full article on The Telegraph
Flybe: coronavirus raises new doubts over the airline’s future
Struggling airline Flybe is facing fresh doubts over its future amid concern about a rescue loan and the impact of coronavirus on its bookings. A £100M government loan to help stabilise the business aimed at stabilising the airline may now be in doubt. Read the full article on BBC
The impact of coronavirus on the airline industry
The airline industry often finds itself on the corporate frontline when it comes to global disasters. The 9/11 attacks, the Sars outbreak and the credit crunch all posed serious threats to a sector that has always struggled to make consistent profits. The coronavirus crisis marks another dangerous moment for airlines, which are already facing multibillion-dollar revenue losses as the disease impacts demand for travel. Read the analysis on The Guardian
Flights cancelled as a preventive measure against COVID19 pandemic
Hundreds of flights to and from the UK will be cancelled this month as a result of the coronavirus outbreak. British Airways said 216 flights will be cancelled between March 16 and 28: London departures to destinations in Italy, France, Austria, Belgium, Germany and Ireland, as well as New York are affected. Read more on Business Traveller
Delta Air Lines CFO Departs as airline industry faces coronavirus impact
Paul Jacobson, the Delta Air Lines Inc. executive who helped reshape the finances of the air carrier after it emerged from bankruptcy in 2007, plans to retire, a move that comes as the airline industry faces the mounting challenge of the spreading coronavirus. Read more on WSJ