18 Mar 2020

Global airlines will go bankrupt soon: Centre for Aviation

From Nine To Noon, 9:54 am on 18 March 2020
Wellington Airport after a radar fault grounded planes on 23 June 2015.

Wellington Airport Photo: RNZ / Alexander Robertson

A Sydney airline analysis and consulting firm is warning most airlines will be bankrupt by May unless urgent action is taken. With large swathes of the globe effectively in lock down, and extensive travel restrictions and border closures, carriers are grounding services and air travel dwindling rapidly.Trading in Air New Zealand shares remains on hold - while the airline is in talks with the government - its major shareholder. Air New Zealand has drastically slashed its international services by 85% and domestic services by 30%. Yesterday's economic stimulation package contained $600 million in support for the aviation industry not including Air New Zealand at this stage. Kathryn talks with Peter Harbison, Executive Chairman of CAPA Centre for Aviation.

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