Airlines that have collapsed, declared bankruptcy, or suspended operations:
Virgin Australia (Australia): April 2020
Compass Airlines (US): March 2020
Trans States Airlines (US): March 2020
Flybe (UK): March 2020
British Airways staff ‘face up to £30,000 pay cut as airline forces 14,000 cabin crew to sign new contracts’
The airline is introducing new contracts across its 42,000 strong workforce.
Job cuts have also been announced at Ryanair and Virgin Atlantic and Virgin Holidays.
Lufthansa is negotiating a €9 billion bailout with German authorities as the coronavirus continues to have a severe impact on international travel.
“The negotiations and the process of political decision-making are still ongoing,” the airline said in a statement.
Air France Secures $7.6 Billion State Rescue Package
The embattled carrier Norwegian Air has won support from aircraft lessors for its rescue plan as it faces a crunch shareholder vote on the $1.2bn (£950m) plan to convert debt into equity at an emergency meeting on Monday.
Sun Country Airlines’ Earlier Deal With Amazon May be the difference. Sun Country Airlines announced an agreement in December to fly 10 dedicated cargo aircraft for Amazon.
Passengers travelling through Manchester, London Stansted and East Midlands in the United Kingdom; will now be asked to cover their faces and wear gloves.
The airports are the first in the UK to ask their passengers to wear face coverings.
Princess Cruises has cancelled a number of cruises through the end of the 2020 summer season.
The line said reduced flight availability, the closure of cruise ports in regions around the world and other factors impacting international travel made the decision unavoidable.
Virgin Atlantic to cut jobs and close Gatwick base. 3,150 jobs impacted across the airline.
Hilton CEO Christopher Nassetta, like many hotel executives and analysts, anticipates local and drive-to travel will recover first from the coronavirus downturn in travel. Hilton temporarily suspended operations at 950 hotels .Thesame way the Pebblebrook Hotel Trust has temporarily closed 46 of its 54 upscale hotels across the U.S., Their operators have furloughed most of the roughly 8,000 employees. The dire coronavirus impact on travel demand has been hugely felt, in the hospitality business globally.
Sports Charting A Comeback
The revenue that is linked to Live Sports Events runs into billions of all currencies globally. Tennis, Golf, American Football, Football / Soccer, Ice Hockey, Baseball, Car Racing, Basketball, and the list is endless. Advertising revenue is dependent on sports programming. All the leagues and sports bodies are trying to schedule the completion and starting of their sports calendars; none of which can be guaranteed. Global job losses and unemployment will also have its own knock on effect.
Will the fear of being in a crowd, curtail the sports fans? How will this impact revenue? Are people still going to be able to afford / be willing to pay for live sports tv subscriptions?Satofsat will be following the trends.
Businesses In Critical Care
Pharmaceutical companies and companies in the production of Personal Protective Equipment (PPE) would in the limelightas essential companies in all countries, in all continents.
- overalls and protective aprons.
- protective headgear – safety helmets, wide brimmed hats to protect against the sun.
- safety boots or shoes.
- safety glasses or goggles.
- gloves.
- respirators and masks.
- earmuffs and earpieces
Manufacturers of vaccines and PPE’s especially for the health care sector following the coronavirus pandemic shouldin the ideal world, be busy over the next few years. The essential PPE’s comprising of face shields, gloves, goggles and glasses, gowns, head covers, masks, respirators, and shoe covers.
The incentives and bailouts that are put in place for businesses following the removal of restrictions, will determine the economic recovery time & process.
What are your thoughts on this? We will love to know. Comment below.
