White House officials have highlighted airlines as a major concern and signaled broad support for a federal plan to fortify the industry.
Virgin has reportedly called upon the UK government to inject emergency support totaling 7.5 billion pounds to help keep Britain's aviation industry flying.Shares of European carriers and most US airlines experienced another bruising session as the economic toll of the coronavirus becomes clearer. British no-frills carrier EasyJet warned it may have to ground"the majority" of its fleet, urging governments across Europe to help their airlines maintain access to liquidity.
IAG said it was taking measures including cuts to non-essential spending, a freeze on recruitment and reducing work hours. The German government on Monday said it is planning to shield companies from going under because of the pandemic, by suspending legal obligations for firms facing acute liquidity problems to file for bankruptcy.
Stephen Innes, markets strategist at AxiCorp, drew a contrast with the global financial crisis which sparked bank bailouts.
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