Coronavirus empties airlines' cash drawers, knocks $157 billion off share values | The Business Standard
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SUNDAY, JUNE 11, 2023
Coronavirus empties airlines' cash drawers, knocks $157 billion off share values

Coronavirus chronicle

Reuters
18 March, 2020, 01:50 pm
Last modified: 18 March, 2020, 02:01 pm

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Coronavirus empties airlines' cash drawers, knocks $157 billion off share values

The outbreak of the flu-like virus has wiped 41%, or $157 billion, off the share value of the world’s 116 listed airlines, with many using up their cash so fast they can now cover less than two months of expenses

Reuters
18 March, 2020, 01:50 pm
Last modified: 18 March, 2020, 02:01 pm
Flight attendants stand at the end of rows of empty seats aboard a Delta flight, as coronavirus disease (COVID-19) disruption continues across the global industry, from New York's JFK International Airport to San Francisco, California, US, March 17, 2020/ Reuters
Flight attendants stand at the end of rows of empty seats aboard a Delta flight, as coronavirus disease (COVID-19) disruption continues across the global industry, from New York's JFK International Airport to San Francisco, California, US, March 17, 2020/ Reuters

Global airlines are fast running out of cash after cutting capacity by 90% or even grounding entire fleets due to the broad travel restrictions to contain the spread of the coronavirus, calling into question the survival of several firms.

The outbreak of the flu-like virus has wiped 41%, or $157 billion, off the share value of the world's 116 listed airlines, with many using up their cash so fast they can now cover less than two months of expenses, a Reuters analysis showed.

The industry's main global body, the International Air Transport Association (IATA), estimates the sector needs up to $200 billion in government support to help airlines survive.

The following charts show airlines' liquidity ratios, and their changes in cash and debt levels against core earnings.

 

World+Biz / Top News / Global Economy

Global airlines / Coronavirus / COVID-19

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