Most pandemic crown airlines around the world by the end of May bankrupt unless governments and the industry take coordinated steps to prevent such a situation, an aviation consultant warned. Many airlines have probably technical failure or substantially broken credit agreements already in Sydney-based consultancy CAPA Center for Aviation driven warned on Monday in a statement. Carriers reduce the cash reserves quickly because their planes are grounded, and those who do not fly more than half empty, he said. “Governmental measures and coordinated sector are required – now – if disaster is to be avoided,” said CAPA. Otherwise, “will be out of the crisis, a brutal battlefield, littered with victims how to enter,” he said. Most of the largest US airlines, China and the Middle East are likely because of government help or assistance from their owners in order to survive, CAPA said. Airlines have large companies as victims of the virus outbreak grinds crown air traffic to a standstill state. Carrier Group Inc. American Airlines Australia, Qantas Airways Ltd. Capacity decreased, while some, like Sweden’s SAS AB have temporarily turned off most of the staff laid off. Flybe, Europe’s largest regional airline has already collapsed. Carrier could face up to $113 billion dollars in lost revenue this year, according to the International Air Transport Association.
News > Business > Crown will bankrupt the majority of airlines, without government assistance from May, analyst warns