Cabin crew of Qantas at an airport in Perth, Australia. Agence France-Presse
Qantas Airways will cut its international capacity by nearly 25% over the next six months and delay an order for Airbus A350 planes as part of sweeping changes in response to a coronavirus-led plunge in passenger demand.
Australia’s Qantas Airways picked Airbus over Boeing as the preferred supplier for jets capable of the world’s longest commercial flights from Sydney to London, dealing the US planemaker its latest setback this year.
Hong Kong flag carrier Cathay Pacific announced on Wednesday that it will buy budget airline HK Express for US$628.15 million, as it moves to counter competition from the increasing number of low-cost carriers in the region.
Lufthansa reported an operating loss of 336 million euros ($380 million) for the first quarter of the year, hurt by rising fuel costs and overcapacity in Europe, sending its shares down 5 per cent in pre-market trade. Germany’s biggest airline said late on Monday
Egypt’s central bank is expected to leave its main interest rates unchanged as it weighs the impact of an emergency 300 basis point cut two weeks ago to soften the economic impact of the coronavirus outbreak, a Reuters poll showed.
Production growth of India’s manufacturing sector eased in March amid export decline, PMI survey report showed. Accordingly, the headline seasonally adjusted IHS Markit India Manufacturing PMI grew at the slowest rate for four months in March,
Softbank Group Corporation said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis.
Some 898,822 workers lost their jobs since March 12 in Spain, social security data showed on Thursday, more than half of which are temporary workers. The number of people officially registered as unemployed in the country rose to 3.5 million in March, the highest level since April 2017.