Airlines rattled by the coronavirus rushed to cut costs on Wednesday, as warning...
PARIS/LONDON - Airlines rattled by the coronavirus rushed to cut costs on Wednesday, as warnings of a pandemic deepened concern about the scale of the impact on aviation and other front-line sectors.
“We urge you all to reduce your cost levels to a minimum level to ensure safe operations,” KLM Chief Financial Officer Erik Swelheim wrote in a message to executives first reported by Dutch news agency ANP. “Only ‘must-do’ expenditure is allowed.” Airlines are flying blind into a crisis of unknown severity and duration. The outlook is worsening as new outbreaks spread fear beyond the Asian destinations already suspended - threatening more routes as well as broader air travel demand.
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