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Airline industry turmoil deepens as coronavirus pain spreads

Updated : March 19, 2020 11:54 AM IST

Shares in US airlines fell sharply on Wednesday after Washington proposed a rescue package of $50 billion in loans, but no grants as the industry had requested, to help address the financial impact from the deepening coronavirus crisis.
In China, the epicentre of the outbreak, international flight cancellations are rising this month, hitting 2,938 on average daily so far.
India is poised to join a growing list of governments offering aid to its aviation industry. The finance ministry is considering a proposal worth up to $1.6 billion that includes temporary suspension of most taxes levied on the sector.
Airline industry turmoil deepens as coronavirus pain spreads

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