JetBlue Airways Corp on Thursday posted a $268 million quarterly loss as the coronavirus pandemic hurt air travel demand, and cut its order book with Airbus SE by about 34% through 2022 to save $1.1 billion in aircraft spending.
The Small Business Administration has sharply curtailed the Economic Injury Disaster Loan program, limiting new applicants to only agricultural businesses and capping max loan amounts at $150,000, down from $2 million, according to reports.
Virgin Atlantic's planned 3,150 job cuts will show the airline is taking "self-help" measures and help it to win financial support from either the British government or a private sector investor, an internal memo to pilots seen by Reuters said.
Bubble-like tech stocks remain among the biggest winners this year, and their strength has pushed the Nasdaq Composite into positive territory on Thursday.
Michigan Governor Gretchen Whitmer on Thursday is expected to announce that the state's factories can reopen soon, removing one of the last major obstacles to North American automakers bringing thousands of laid-off employees back to work amid the coronavirus pandemic, two people familiar with the plans said.
New York Gov. Andrew Cuomo extended the moratorium on evictions through August. The state has been the epicenter of the coronavirus pandemic.
Lufthansa is negotiating a 9 billion euro ($9.71 billion) bailout with Germany's economic stabilisation fund to ensure its future, the airline said on Thursday, confirming an earlier Reuters report.
Panama's Copa Airlines said on Thursday that it is planning to retire early its fleet of 14 older Boeing 737-700 NG planes, the latest carrier to do away with planes due to the coronavirus crisis.
Millions more Americans sought unemployment benefits last week, suggesting layoffs broadened from consumer-facing industries to other segments of the economy and could remain elevated even as many parts of the country start to reopen.
Cargo carriers have become a hot corner of the airline industry as airlines idle planes to face the coronavirus pandemic
When American companies recently applied for U.S. government loans meant to help small businesses survive the coronavirus crisis, they had to certify they needed the cash to cover basic needs like salaries and rent. The money, up to $10 million, was meant to tide them over for eight weeks.
April Coolidge used to work in real estate but now she makes more money driving a truck than she ever did selling houses.
Airbus deliveries tumbled 80% to just 14 aircraft in April, compared with a year earlier, as operations were hit by the coronavirus crisis, company data showed on Thursday.
While Detroit automakers' unionized auto factories have been idled by the coronavirus pandemic, farm and construction equipment makers Deere and Caterpillar have won the support of the United Auto Workers and other unions to run their facilities during the pandemic.
Tesla Inc Chief Executive Elon Musk said in a podcast interview released on Thursday that the company's planned Roadster sports car would take a backseat to the development of other vehicle models.