“As the impact of the coronavirus and multiple government travel reactions sweep through our world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants,” it stated. Across the world, airlines have announced drastic reduction in their operations in the wake of the coronavirus outbreak. The US has suspended all tourist visas for people belonging to the European Union, the UK and Ireland. Similarly, the Indian government has suspended all tourist visas and e-visas granted on or before March 11. CAPA, in its note on Monday, said, “By the end of May-2020, most airlines in the world will be bankrupt.

Source: Hindustan Times March 16, 2020 05:45 UTC