Capa - Latest News Update, Information, Photos & Videos on Capa at Lokmat Times

New Delhi [India], Mar 17 : As coronavirus spreads across the globe, a report by CAPA--Centre for Aviation has claimed that by the end of May-2020 most airlines in the world will be bankrupt amid the current COVID-19 scare.According to the report, many airlines have probably already been driven into technical bankruptcy or are at least substantially in breach of debt covenants and most airlines in the world will go bankrupt by the end of 2020. Coordinated government and industry action is needed - now - if catastrophe is to be avoided."Cash reserves are running down quickly as fleets are grounded and what flights there are operate much less than half full," said CAPA Centre for Aviation report."Forward bookings are far outweighed by cancellations and each time there is a new government recommendation it is to discourage flying. Demand is drying up in ways that are completely unprecedented. Normality is not yet on the horizon," CAPA added.The fear is that, as a collapsed airline system is reconstituted, similar national self-interest will prevail. That's important because the aviation industry is about much more than airline health. It is crucial to global communications and trade.CAPA Centre for Aviation is a consultancy of the market intelligence for the aviation and travel industry.In India, according to official data, there are an estimated 114 cases who have tested positive for COVID-19 with two deaths reported from the infection.( With inputs from ANI )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Capa, NewsFOLLOW

Capa, Latest News

Business :IndiGo grounds planes, cuts salary for employees as revenue drops due to COVID-19

India's largest carrier IndiGo has grounded about 16 planes out of its total fleet of 260 aircraft and is asking the employees to take 10 to 20 per cent salary cuts as it grapples with the impact of coronavirus on domestic and international flights. ...

National :COVID-19: Most airlines face bankruptcy by May, govt action needed to avoid catastrophe, warns report

As coronavirus spreads across the globe, a report by CAPA--Centre for Aviation has claimed that by the end of May-2020 most airlines in the world will be bankrupt amid the current COVID-19 scare. ...