Airlines draw RCFs as virus hammers sector
Air France-KLM has taken a series of exceptional measures including drawing down on €1.765bn of bank debt and Moody's has cut ratings in the sector as the coronavirus pummels the airline industry.
The Covid-19 outbreak has hit airlines badly. Air France-KLM, said on Monday that it is going to "significantly" reduce flight activity, cutting its available seat kilometres by 70% to 90%.More companies in the worst hit industries are relying on their bank loans for liquidity. This has already been ...
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