Airlines Could Go Bankrupt Due to Coronavirus Pandemic

With travelers preferring to stay at homes and carriers suspending their services amid the COVID-19 pandemic, airlines around the globe could go bankrupt by May this year, CAPA Center for Aviation has cautioned.

CAPA Center for Aviation is a world-leading aviation analysis and research firm.

According to CAPA, the Coronavirus pandemic would have devastating consequences for all airlines. If urgent action isn’t taken, all airlines will go bankrupt in just a few weeks.

In an official statement released recently, CAPA cautioned:

As the impact of the coronavirus and multiple government travel reactions sweeps through our world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants.

Tickets cancellations have exceeded bookings as governments across the world are discouraging international travel to contain the spread of Coronavirus, CAPA stated.

Forward bookings are far outweighed by cancellations and each time there is a new government recommendation it is to discourage flying. Cash reserves are running down quickly as fleets are grounded and what flights there are operate much less than half full.

CAPA claimed that demand for air travel has recorded an unprecedented decline recently and the industry is at the brink of catastrophe. The industry and governments must coordinate to pull back the industry from the verge of disaster, they concluded.

  • People are dying and these airlines are worried about bankruptcy they can go to hell it is due to these airlines corona have spread worldwide.

  • It is very sad. All humanity is helpless in front of tiny corona virus. This is the power of Almighty Allah. Khalid Bin Waleed Razi Allah Tala Anha a great islamic warrior has taken the poison but poison become ineffective. Turn back to Allah. He change the corona virus. Don’t be panic. It is okay. You are alive and you are not going to die. Just relax and believe in Allah. Paise Him.

    • I agree with you those people who were worshipers of science today it failed them if humanity sincerely prayed to Allah this would not have happened in the first place greed and sin are the reason we are getting corona.

    • bissmillah hillazi la yadurru ma’asmihi shae’un fill ardi walafis samaa’ee wahuwass samee’ull aleem..

      Khalid bin Waleed read this ayat before drinking the poison and this makes the poison ineffective.. kindly read this dua three times daily in morning and evening. May ALLAH Subhan Wa Ta’ala keep us in his amaan.. ameen

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