American and Spirit Airlines suspend 2020 guidance due to coronavirus outbreak

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American and Spirit Airlines suspend 2020 guidance due to coronavirus outbreak GlobeBusiness

Airlines have been among the biggest corporate losers in the fast-spreading epidemic as tourists cancel trips to hit countries and businesses across the globe clamp down on anything other than essential travel.American said a fall in fuel prices, as oil sank around a fifth in value on Monday, is expected to drive about $3 billion in 2020 cost savings.

Australian airline Qantas announced on Tuesday it will cut its international capacity by nearly 25 per cent over the next six months and delay an order for Airbus A350 planes, all part of sweeping changes in response to a coronavirus-led plunge in passenger demand.

 

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