Leading U.S. airlines American and Delta suspended 2020 financial guidance on Tu...
) suspended 2020 financial guidance on Tuesday and took drastic further measures to combat the impact of the coronavirus as the head of smaller rival Southwest took a 10% pay cut.
American, the No.2 U.S. airline by revenue last year, said it would cut domestic capacity by 7.5% in April and international by 10% for the upcoming summer season. “This clearly is not an economic event. This is a fear event, probably more akin to what we saw at 9/11 than necessarily what we saw in 2009,” Delta Chief Executive Officer Ed Bastian told an industry conference.
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