Unprecedented as it may seem, the groundings due to COVID-19 are going to throw up a bigger challenge at aviation in general and Indian aviation in particular. Indian aviation has been working on margins as thin as a boarding pass. Will the story of Jet Airways repeat with another carrier, will the government help with a bailout? Currently, there are more questions than answers. … [Read more...] about Jet Airways shutdown: What happened to its 123 planes?
Bbc news ethiopian plane crash
“NYMEX crude May contract has slipped below $11/bbl for the first time since March 1999. June contract is down 7 percent near $23/bbl and is still holding above the lows set earlier in the day. The sell-off in near month contract is largely because of position squaring ahead of expiry .There are huge stocks in US storage and this has pressurised near month prices,” said Ravindra Rao, VP- Head of Commodity Research at Kotak Securities. … [Read more...] about WTI May crude futures crashes over 300% to -$36.90 a barrel on scant storage, weak demand
The second quarter of 2020 is likely to witness a further unprecedented decline in global oil demand growth, aided by mass lockdown and halt of transportation and economic activity. As COVID-19 continues to weigh in on global oil demand, price of WTI crude for May futures fell to an unprecedented low of minus $37.63 a barrel suggesting that sellers were paying buyers to take oil deliveries in a bid to avoid storage cost. Most short-term analysis for world oil demand predict that it will pick up gradually and return to pre-COVID growth levels only by early next year. … [Read more...] about Oil price crash can be a blessing in disguise for India
JPR: In January, as my husband and I watched the news from Wuhan, tiny bottles of hand sanitizer began appearing around our apartment. In late February, as Italy became like a war zone, my sister, who lives in France, said her friends had COVID-19. There had been a spate of cases in her region, but she was okay, still going to work, being careful. We began making more frequent grocery runs. The first week in March, my editor called to say the Los Angeles Times Festival of Books was being postponed until October. I was supposed to fly out to California in a few short weeks to be on a memoir panel. I was recording the audiobook at the time and called the studio to move up the final recording date, just in case things got worse. I woke up a week later to texts from friends about the launch being canceled. I found out via Facebook. Everything fell like dominos after that. … [Read more...] about What it’s like to spend 10 years writing a book that’s released during a pandemic
Airlines have raised concerns that measures to slow the spread of the pandemic could blight profitability long after the travel restrictions end. The International Air Transport Association (IATA) estimated that the crisis could cost airlines a total of $314 billion. … [Read more...] about EU says air travel will need social distancing, US airlines taking their own steps