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US carrier Alaska Airlines has revealed plans to reduce operations across the US and beyond as the coronavirus (Covid-19) continues to spread.
The airline operator plans to cut operations for April and May by approximately 70%, as there is an unprecedented reduction in the passenger traffic. Schedules for June and beyond will be based on the demand.
With government leaders encouraging social distancing and travel restrictions, many airlines are experiencing demand to decrease by more than 80%.
Alaska CEO Brad Tilden said: “Alaska’s goal, since the onset of this outbreak, has been to keep our employees and guests safe and healthy, and to ensure that our airline is here to support and serve them in the future.
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By GlobalData“But we also know that given the lack of demand for air travel and profound impact on the financial management of our business, hard work and aggressive control of costs and cash are required, even with additional support.”
The carrier has also taken some of the actions being to maintain spending and improve liquidity. The actions include the suspension of cash dividends and share repurchase programme that was announced previously.
Alaska Airlines has spent $400m from its credit line and secured a loan of $425m. The airline also said that it is reducing its officer pay through 30 September.
Confirmed cases of Covid-19 have reached 438,441 globally while the death toll reached 19,656.
