Some carriers face calamity, with Korean Air Lines warning the virus outbreak could threaten its survival after it scrapped more than 80% of its international capacity, grounding 100 of its 145 passenger aircraft.
"The situation can get worse at any time and we cannot even predict how long it will last," Woo Kee hong, the president of South Korea's biggest airline, said in a memo to staff cover samsung cover samsung s6 spigen s6 edge vans that summed up the turmoil facing the industry.
"But if the situation continues for a longer period, we may reach the threshold where we cannot guarantee the company's survival."
Australia's Qantas Airways said it would also cut its international cover samsung s8 samsung capacity, by nearly 25% over the next six months, and delay an order for Airbus cover samsung galaxy s8 disegni A350 planes due to cover samsung galaxy j5 2017 tumblr a plunge in demand that industry chiefs estimate could hit airlines' revenue by up to $113 billion this year.
Qantas said it could no longer provide guidance on the financial impact of the coronavirus, which it had estimated on Feb. 20 could hit underlying earnings (EBIT) by up to about $98 cover samsung tab s3 9.7 million this financial year. Syracuse Orange Jersey Its CEO and chairman will take no salary, managers will receive no bonuses and all staff are being encouraged to take paid or unpaid leave. Buy Cheap NBA Snapback Caps Kyler Fisher Jersey airlines American and Delta suspended their 2020 financial guidance and took drastic further measures to combat cover samsung s5 neon the impact of cover samsung j5 2016 unicorni the coronavirus.
Delta cover samsung galaxy j3 2016 oro rosa said it had seen net bookings fall by as much as 25% to 30% and expected the situation cover samsung j7 2017 kawaii to deteriorate further. New York Giants Jerseys Cheap For Sale Anthony Davis Jersey It is freezing hiring and offering voluntary leave options to staff.
"This clearly is not an economic event," CEO Ed Bastian told an industry conference. Brandon Pili Jersey "This is a fear event, probably more akin to what we saw at 9/11."
The unprecedented lockdown of cover samsung cor prime the whole of Italy, which is convulsed by Europe's worst coronavirus outbreak, has heaped fresh disaster on global airlines.
Norwegian Air, IAG owned British Airways, easyJet, Wizz Air and El Al Israel Airlines were among carriers to axe flights to and from the country, where there have been more than 9,000 virus infections and over 460 deaths.
Ryanair said on Tuesday it was cutting its passenger forecast cover samsung galaxy a8 2018 silicone morbido for the year ending March by three million as a direct result of suspending almost all flights to and from its most important market for the cover samsung galaxy tab a sm t550 next month.
Aviation analyst Mark Simpson, at Goodbody, said another major concern for the travel industry was whether the coronavirus epidemic would worsen markedly in European holiday hub Spain, which has reported more than 1,200 cases.
"A similar outbreak in Spain would pull IAG into the fold, the holiday groups like TUI and DART (Jet2)," he said. D.J. Uiagalelei Jersey "IAG would be much more exposed cover samsung j7 2017 glitter due to its ownership of Vueling, Iberia and the soon to be completed Air Europa."
Air France said it expected to make a total of 3,600 flight cancellations in March, including cutting 25% of its European capacity.
The global airline industry has been among the sectors hardest hit by the coronavirus outbreak. Comprar camisetas futbol Online It has lost almost a third of its value $70 billion this year, according to Reuters calculations based on the 20 top listed global carriers.
The Italian cancellations added to an already difficult financial situation at Norwegian Air, which has lost 70% of its market value this year and scrapped its 2020 outlook.
It said on Tuesday it would cut around 3,000 flights between mid March and mid June and temporarily lay off a "significant share" of its workforce.
The CEO of Britain's Virgin Atlantic, Shai Weiss, meanwhile told the BBC that the airline was being "forced to fly almost empty planes" in order to keep its valuable airport slots.
On Tuesday, Germany's economic ministry joined calls for Brussels to relax the obligation on airlines.