The fast spreading coronavirus pandemic has forced airlines to lay off staff and cut more flights.
Reports from BBC reveal that the affected company Ryanair, is to ground the majority of its fleet, and says a full grounding of its planes “cannot be ruled out”.
On capacity slash, IAG who owns British Airways is planning to cut capacity by at least 75% in April and May.
Joining the trend is EasyJet who also said it may also have to ground most of its planes as a result of travel bans and falling demand.
Holiday Company Tui is not left out as it has also said it will suspend the “majority” of its operations, affecting “package travel, cruises and hotel” bookings.
On the effect so far, in recent weeks Passenger numbers and bookings have plummeted as countries closed their borders and holiday makers have cancelled trips.
In reaction to the situation, Aviation analyst John Strickland warned that airlines could lose money very quickly.
In his words, “There is no cash whatsoever coming in the doors,”