Crisis Deepens in Airlines

Crisis Deepens in Airlines

The United Nations (UN) International Civil Aviation Organization has voiced its recommendations to governments to meet critical healthcare equipment and medicines to prevent the spread of coronaviruses, such as respirators and masks, and not to reduce air freight transport operations. "The coronavirus outbreak put the entire global economy and our company in an unprecedented extraordinary situation. In the current situation, nobody can predict what could happen," Lufthansa CEO Carsten Spohr said. Lufthansa announced that 700 of the 763 planes stopped their flights and the board would face a 20% fee cut. Delta Air Lines DAL.N announced yesterday that more than 600 jets will stop its flights, company payments will decrease by half and flights will decrease more than 70% until demand increases again. American Airlines Group AAL.O, on the other hand, rejected the criticism that it has previously rewarded its shareholders with numerous dividends and made share repurchases at good times and that there is not enough cash left to manage the crisis at the moment. Qantas Airlines in Australia has announced that it will stop all international flights and leave two-thirds of its 30,000 employees on paid or leave unpaid. After all these explanations, it is a matter of curiosity about how the airline companies will follow.