As coronavirus grounds global airlines, top US official says 'it's worse than 9/11'

US Treasury Secretary Steven Mnuchin on March 17 said that airline industry is facing a greater threat from coronavirus lockdown than it did back on September 9, 2001 during attacks, when entire air in country was shut down. coronavirus pandemic has pushed global airline sector towards bankruptcy and calls for emergency bailouts swept through in many parts of world.

Re: Italy Plans To Re-nationalise Bankrupt Alitalia As Part Of Ecomic Rescue Plan

As per reports, Italy moved to re-nationalise its flag-carrier Alitalia under an emergency ecomic rescue plan for coronavirus outbreak. airline h gone bankrupt and Italian government was looking to sell its majority stake before virus struck country. However, government w has decided to rescue national airline as part of a plan that would reportedly cost taxpayers a whopping $670 million. 

Re: Ecomists Warn Global Recession Is Longer A Looming Threat

Media reports suggest that airlines in United States have sought $50 billion in help from government after Trump ministration prepared a reportedly $850 billion plan to prevent an ecomic fallout due to coronavirus outbreak. According to reports, Market Intelligent firm CAPA warned that most airlines will go bankrupt by end of May, while industry officials say that y would face a crisis in ir cash reserves in three months or so. 

Re: German Foreign Minister vises Citizens Against Travelling Abro After Spike In Cases

As per reports, airlines have warned that vital air cargo would be impacted by shutdown of 1,85,000 passenger flights around globe. coronavirus outbreak has taken a huge toll on global ecomy as countries moved to shut ir borders in order to prevent spre of disease. Wall Street on March 16 saw its worst day since 1987 after US President Donald Trump anunced travel ban to and from Europe. 

Re: Turkish Govt Seeks To Downplay Coronavirus Threat To Prevent Tourism Sector: Reports

Coronavirus outbreak

COVID-19 has claimed more than 7,900 lives across world and has infected over 1,98,000 people globally since it first broke out in December 2019. China is most affected country in world as experts believe that virus originated from a seafood market in Wuhan city, epicentre of disease, where animals were reportedly being tred illegally. Italy, Iran and Spain are most affected countries outside mainland China, where, as of March 17 combined death toll stands at 4,024.