Airlines are slashing capacity around the world to confront the collapse in bookings as coronavirus spreads.
A United Airlines plane sits parked at a gate at San Francisco International Airport on March 06, 2020 in San Francisco, California.Airlines expect to receive some form of government support but it's not yet clear what form it will take. Executives have warned the drop in demand is more severe than after 9/11.
"We took early, aggressive action because we have been determined to do everything possible to avoid painful steps that affect your paycheck," the United executives wrote. "But, based on the severity of the situation, that no longer appears realistic." "The speed of the demand fall-off is unlike anything we've seen – and we've seen a lot in our business. We are moving quickly to preserve cash and protect our company," Bastian wrote.
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