Airlines ground flights, count mounting costs of the coronavirus shock

Airlines ground flights, count mounting costs of the coronavirus shock

Air New Zealand said on March 16 it would cut long-haul capacity by 85% in the coming months and the domestic network by 30% in April and May.. American Airlines plans to cut 75% of its international flights through May 6 and ground nearly all its widebody fleet.. The German carrier cut long-haul capacity by up to 90% from March 17, and said it would only operate 20% of planned intra-Europe flights.. International Consolidated Airlines Group (IAG), the owner of British Airways and Iberia, said it would cut its flying capacity by at least 75% in April and May.. Norwegian Air said on March 16 it would cancel 85% of its flights and temporarily lay off 7,300 employees.. The Irish airline said on March 16 it would ground most of its aircraft in Europe, expected to cut seat capacity by 80% for the next two months, and could even ground its entire fleet.. Virgin Atlantic, the UK-based airline, said it would ground 75% of its fleet by 26 March and by up to 85% at points in April, as it canceled more flights.. The Hungary-based budget airline said on March 23 it is operating 15% of its capacity and warned