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Wed Apr 1, 2020, 11:51 AM

Airlines facing what official calls 'deepest crisis ever'

Source: Reuters

BUSINESS NEWS APRIL 1, 2020 / 9:26 AM / UPDATED 2 HOURS AGO

LONDON (Reuters) - As the novel coronavirus continues to spread, commercial flights have all but stopped. The situation is so dire that the head of the trade group representing the world’s airlines called the last few months “its deepest crisis ever.”

A Reuters analysis of data from FlightAware, which tracks air traffic in real-time, reveals a series of sequential and precipitous declines in flights in four key regions as officials sought to contain the outbreak.

From March 24 to March 30, FlightAware tracked about 280,000 flights, down almost 500,000 from the same week a year earlier.

In late March, the International Air Transport Association estimated lost revenue from the coronavirus will exceed $250 billion in 2020 and urged governments to offer immediate financial support to the industry.

The transport association said today’s crisis is far worse and more widespread than after 9/11, when U.S. airlines lost approximately $19.6 billion in revenue in 2001-2002. After the terrorist attacks, the U.S. government provided $15 billion to airlines in compensation and loan guarantees.

Reporting by Reade Levinson in London. Additional reporting by Tracy Rucinski in Chicago, Laurence Frost in Paris and Jamie Freed in Sydney. Edited by Blake Morrison and Janet Roberts.

Read more: https://www.reuters.com/article/us-health-coronavirus-flights/airlines-facing-what-official-calls-deepest-crisis-ever-idUSKBN21J5NC



-snip-

Data from FlightAware shows flights by freight and package carriers such as Atlas, Polar, FedEx and UPS arriving in and departing from the United States initially declined during the first week of February 2020. The drop, which correlated to the Hubei Province lockdown, “shows how important China is to the world of international commerce,” said Andrew Charlton, an industry analyst.

Shortly thereafter, however, U.S. cargo flights rebounded to previous levels, the data shows.

Because passenger jets transport about half of all air cargo carried worldwide, the grounding of those planes has increased demand for freighters. In response, some commercial airlines such as American, Delta and Virgin Atlantic are using passenger jets solely for shipping cargo.


My wife's sister just flew down to Florida and there was grand total with a flight crew on AA flight of 8.....................and she used her frequent fliers miles to go ..........................

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Arrow 20 replies Author Time Post
Reply Airlines facing what official calls 'deepest crisis ever' (Original post)
turbinetree Apr 1 OP
ffr Apr 1 #1
SWBTATTReg Apr 1 #2
la-trucker Apr 1 #9
SWBTATTReg Apr 1 #10
keithbvadu2 Apr 1 #3
SWBTATTReg Apr 1 #11
Botany Apr 1 #4
Sherman A1 Apr 1 #7
bronxiteforever Apr 1 #12
kysrsoze Apr 1 #5
mpcamb Apr 1 #13
ResistantAmerican17 Apr 1 #6
Ponietz Apr 1 #8
ProfessorGAC Apr 1 #14
turbinetree Apr 1 #15
ProfessorGAC Apr 1 #16
turbinetree Apr 1 #18
ProfessorGAC Apr 1 #20
enid602 Apr 1 #17
a la izquierda Apr 1 #19

Response to turbinetree (Original post)

Wed Apr 1, 2020, 11:55 AM

1. You mean the same airlines that Hobby Lobbied for conservatives up and down the ballot

That set of airlines? What a pity. I'm out of fucks!

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Response to turbinetree (Original post)

Wed Apr 1, 2020, 11:57 AM

2. Maybe I'm wrong, but I thought being unregulated, that they could stop or cancel flights at...

will now. Thus, not enough passengers, then why fly? Route the few passengers to other more populated flights? I may be wrong here, but in the old, regulated days, airlines had to fly a flight regardless of the number of passengers. Now, w/ the unregulated nature of the industry, they don't. And they're still bitching. What does it take, to make this industry happy? They moaned about regulations before, and now they moaning still afterwards.

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Response to SWBTATTReg (Reply #2)

Wed Apr 1, 2020, 12:34 PM

9. They have a conundrum

They can cancel the flights but then they lose their coveted gate slots at major airports which are valuable.

I think a suspension of the gate slot requirement and freezing the gate slots until the crisis is over will do much better for the airlines than simply cash.

Currently, BA is flying flights from Heathrow to Gatwick and back to preserve gate slots. I also heard of flights from Oakland to San Francisco, San Francisco to San Jose and JFK to Newark and Laguardia.

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Response to la-trucker (Reply #9)

Wed Apr 1, 2020, 01:04 PM

10. Thanks for the information. Seems like what you suggest is the thing to do (suspension/freezing)

of gate slots will be the better thing to do. Take care!

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Response to turbinetree (Original post)

Wed Apr 1, 2020, 12:01 PM

3. Sell the stock they bought back with the previous tax cuts.

Sell the stock they bought back with the previous tax cuts.


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Response to keithbvadu2 (Reply #3)

Wed Apr 1, 2020, 01:05 PM

11. Ha ha heh...what taxes? I read somewhere that a lot of these companies haven't even paid...

any taxes. I agree w/ you, if zero taxes paid in, then they get zero dollars back from the stimulus (I think this is what you're saying too). Take care!

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Response to turbinetree (Original post)

Wed Apr 1, 2020, 12:02 PM

4. The same airlines that used all of their tax cut money to buy back their own stock so the ...

... executives could all bring in shit piles of money?

Fuck 'em.

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Response to Botany (Reply #4)

Wed Apr 1, 2020, 12:26 PM

7. Agreed

F ‘em

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Response to Botany (Reply #4)

Wed Apr 1, 2020, 01:10 PM

12. +1

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Response to turbinetree (Original post)

Wed Apr 1, 2020, 12:11 PM

5. I have a solution - nationalize them. US can buy controlling shares. Fuck them otherwise.

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Response to kysrsoze (Reply #5)

Wed Apr 1, 2020, 01:33 PM

13. I like that notion. Don't give away bailout money... buy controlling interest.

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Response to turbinetree (Original post)

Wed Apr 1, 2020, 12:26 PM

6. Cry me a river you greedy fucks

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Response to turbinetree (Original post)

Wed Apr 1, 2020, 12:34 PM

8. The age of leisure travel by jet is over

The planet needs to breath. Fuck em.

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Response to turbinetree (Original post)

Wed Apr 1, 2020, 02:09 PM

14. Just Looked At United Financials

$3 billion buy back; free cash flow negative $11 million.
They bought back stock with 3 billion and borrowed cash to maintain operations.
The CEO made $5 million & got voted a raise.
That $3 billion would come in pretty handy now, wouldn't it, Oscar?

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Response to ProfessorGAC (Reply #14)

Wed Apr 1, 2020, 02:20 PM

15. And when we were employee owned and was going through 9/11 we couldn't get anything

anything from Wall Street, had to sell off due to bankruptcy, got $2.00 on the share, most individuals that were hired after 1989, were furloughed, and then when they merged with Continental they were using dual contracts and hiring people off the street under the Continental contract, and so those under the UA had some individuals did get a recall until 15 years later.....................

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Response to turbinetree (Reply #15)

Wed Apr 1, 2020, 02:33 PM

16. Geez!

Still comes down to quarterly expectations from investors & analysts.
Even those managers must have been cash & investment poor for things to go that far south.
It was business, but I was back flying United 2 weeks after 9/11. A couple month drop in passenger fares would not have done that if longer range thinking allowed for "rainy day" provisions.

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Response to ProfessorGAC (Reply #16)

Wed Apr 1, 2020, 02:58 PM

18. We, the mechanics and pilots had bought company to get rid of Steve Wolf,

we used our assets of our contracts to leverage the buyout we gave up a break period and pay raises if you were already at scale, so you didn't get a raise...............we took over at 55% of the company, it cost us somewhere in the 5 Billion range.......................and the below article fully explains this and how it really failed:

https://cmr.berkeley.edu/2018/06/united-we-fall/

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Response to turbinetree (Reply #18)

Wed Apr 1, 2020, 04:54 PM

20. Thanks (nt)

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Response to turbinetree (Original post)

Wed Apr 1, 2020, 02:40 PM

17. cheap testing

I don't mean to oversimplify, but it seems this new so called inexpensive Covid 19 test (that only takes 5 to 10 minutes to get a result) will mean that you can a clean bill of health right outside the airport, and they will be able to open up all those cancelled flights.

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Response to enid602 (Reply #17)

Wed Apr 1, 2020, 04:29 PM

19. The minute they lift restrictions...

I’m on the next flight to London and they can test me six ways from Sunday. I don’t care.

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