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The announcement will stop production of most wide body jets, while Airbus se (air. PA) only resumed production after four, so the epidemic is causing huge losses to aerospace manufacturing. All day shutdown due to layoffs at suppliers.
Airlines are unable to fly due to the collapse of demand due to fears of contagion, and aircraft manufacturers and their suppliers are under pressure to save cash to cope with liquidity pressures due to restrictions on air travel.
Moody's downgraded the outlook for its aerospace and defense industries from stable to negative, warning that even if the market recovers, a damaged balance sheet for most airlines would hurt demand for new aircraft.
According to the Airline Timetable company OAG, global passenger traffic fell by 35% last week, the worst since the crisis broke out, and the company said it could cut further in the coming weeks.
Cirium's data shows that more than 2500 aircraft have been grounded this year. Taxiways, maintenance hangars and even runways of major airports around the world have become huge parking lots.
Four officials, speaking on condition of anonymity, said that the major US airlines had drafted plans to possibly stop us air passenger transport, although there was no plan at present, and US President Donald Trump said on Monday that he did not consider banning domestic travel.
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