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Airlines are in Fresh Crisis as Partial Lockdown

News Link: Airlines are in Fresh Crisis as Partial Lockdown.

Prime Minister Boris Johnson’s government prohibited overseas leisure travel from England as part of a partial lockdown of the country to curb a resurgence of the coronavirus.

British Airways, the world’s biggest operator of Boeing Co.747-400s, is retiring its entire fleet of the jumbo jets with immediate effect. Because of the damage the coronavirus has done to air travel.

The new rules will apply from Thursday through Dec. 2 and come as the industry struggles to survive a collapse in demand. Airlines hadn’t been informed about the restrictions before Johnson’s announcement Saturday evening. According to people with knowledge of the matter who declined to be identified as they weren’t authorized to speak publicly on the issue.

Airlines were already reeling from the Covid-19 pandemic. They have eliminated tens of thousands of jobs, retired older fuel-guzzling aircraft and turned to capital markets and asset sales to survive a slump in travel. In response to the resurgence in Covid-19 infections during the slower winter season, many have further slashed capacity to lower expenses.

“Overnight stays and holidays away from primary residences will not be allowed — including holidays in the U.K. and abroad,” according to restrictions announced late Saturday. All but essential shops will close, as will restaurants and bars, though schools and universities will remain open.

Even before the latest lockdown measures in countries such as France and Germany, the International Air Transport Association had predicted that the global airlines industry was on track to burn through $77 billion in cash in the second half.

Compiled by – MK ( Editor)

Also, Read More news at Business Segment

News Link: Airlines are in Fresh Crisis as Partial Lockdown.

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