Coronavirus wipes $70 billion off airline sector : Bulletin: Business Today
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Coronavirus wipes $70 billion off airline sector

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BusinessToday.In | March 12, 2020

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IndiGo's parent InterGlobe Aviation on Wednesday said its quarterly earnings are expected to be hit due to decline in daily bookings, amid the coronavirus outbreak. The numbers could change from here based on how the situation evolves. They expect the quarterly earnings to be materially impacted because of the outbreak.

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The Ministry of Home Affairs, in its latest travel advisory amid coronavirus outbreak, has said all existing visas issued to nationals of any country will stand suspended till April 15. However, this would not apply to diplomats, officials, UN/international organisations, employment and project visas.  The restriction would come into effect from 1200 GMT (6:30 AM) on March 13 at the port of departure of any foreigner coming to India.

Yes Bank founder Rana Kapoor's ED custody extended till Mar 16
A special court on Wednesday extended till March 16 the Enforcement Directorate (ED) custody of Yes Bank founder Rana Kapoor, arrested on money laundering charges. Kapoor, after the hearing, blamed the present management of the bank for its downfall.

Coronavirus wipes $70 billion off airline sector
 The rapid spread of coronavirus has wiped almost a third - or $70 billion (53.6 billion pounds) - off the world's top 20 listed airlines and reshuffled global rankings, elevating Air China into third place behind U.S. rivals, an analysis by Reuters shows. The airline sector has been hit hardest by the outbreak of coronavirus, with falling ticket demand and Italy in lockdown forcing carriers to cancel routes and slash.

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