The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national…
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the national and global response, the work place and the spread of the virus.
________________________
TRAVEL:
U. S. gasoline consumption is more than halfway back to pre-COVID-19 levels, according to the Oil Price Information Service, an IHS Markit company.
Fill-ups at the pump fell 49% from 2019 volumes during the second week of April. The most recent OPIS survey shows that demand was down 22% in the second week of June, compared with the year-ago period.
Gasoline sales have been climbing at an average of 6.4% per week since April, according to OPIS President Fred Rozell.
— The pilots’ union at American Airlines is proposing that the government help airlines by buying enough seats so that passengers never have to sit next to a stranger.
The Allied Pilots Association said Wednesday that would make people feel comfortable about flying during the pandemic, lead airlines to add flights, and help avoid “significant” layoffs when $25 billion in federal payroll aid to airlines runs out in October. The proposal isn’t cheap. The union estimates it would cost up to $1.9 billion a month if airlines operate at 40% of their 2019 capacity and up to $3.8 billion a month if they run at 80%.
— Airport ground-services firm Swissport says it may have to cut half its British staff because of the collapse in airline travel caused by the coronavirus pandemic.
The company, which operates baggage handling and check-in services at U. K. airports including Heathrow and Gatwick, said Wednesday that 4,556 jobs may be cut as it faces a loss of 50% of its revenue this year.
— Royal Caribbean Group’s joint venture with Cruises Investment Holding needs to reorganize due to the virus outbreak.
