Leading U.S. airlines unveiled on Tuesday more sweeping capacity cuts and cost-saving measures in response to a sharp decline in demand over the spreading coronavirus, including a $2 billion capital raising by United (UAL.O).Delta (DAL.N) and American (AAL.O) ditched their 2020 forecasts as the fast-spreading epidemic clouds outlooks, while United warned of first-quarter loss.
The sector has been hard-hit as tourists cancel trips and businesses across the globe clamp down on anything other than essential travel, sparking a string of steps by airlines to tackle the impact of the outbreak ahead of the summer season.
