Singapore Airlines latest to get massive rescue amid coronavirus crisis
), have warned they expect to be smaller carriers in the future. South Korean low-cost carrier Eastar has begun returning some of its Boeing 737 planes to lessors.BATTLE FOR SURVIVAL
“You can draw down your cash reserves, you can sell some assets if some of your aircraft are owned, sale and lease back, new bonds, new loans,” Sobie said. “But at some point you just run out and you also sacrifice your future and if you have raised all this new capital, you limit your ability to expand and flexibility later on.”
After the U.S. House of Representatives approves the airline bailout and President Donald Trump signs it as early as Friday, airlines are to receive initial payments within 10 days. China, which had been showing some early signs of a recovery in flight capacity, on Thursday ordered airlines to sharply cut the number of flights in and out of the country out of concern that infected travellers from overseas could reignite the coronavirus outbreak that paralysed the country for two months.
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