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American Airlines draws down $1bn loan American Airlines has drawn down the $1bn loan it took out a week ago. Like other airlines, has sought liquidity as demand for air travel evaporated amid the pandemic and the travel restrictions attempting to curb it. Delta Air Lines has drawn $3bn in loans, and Southwest Airlines has tapped $2bn.
Finland to cut off region around Helsinki to slow Covid-19 spread Finland is cutting off the region around its capital city Helsinki from the rest of the Nordic country in an attempt to slow the pace of the coronavirus outbreak. Sanna Marin, Finland’s centre-left prime minister, announced on Thursday evening that travel into and out from the Uusimaa region that includes Helsinki would be prohibited until April 19, with only a few exceptions.
UK High Court rejects challenge to release immigration detainees The High Court has dismissed a legal challenge which had sought the temporary release of detainees in immigration removal centres if they were at risk from coronavirus. Two judges dismissed a judicial review challenge brought by Detention Action, a charity, against the Home Office on Wednesday evening.
Defence department asked to help repatriate US citizens US diplomats are turning to the department of defence to get thousands of citizens home as international travel shuts down in a bid to stem the spread of coronavirus. US State department said it plans to fly 9,000 people home in 66 flights in coming days, but says it assesses 50,000 might seek to return to the US. It has already brought 9,000 people back from 28 countries.
Mario Draghi: We face a war against coronavirus and must mobilise accordingly The coronavirus pandemic is a human tragedy of potentially biblical proportions. Many today are living in fear of their lives or mourning their loved ones. The actions being taken by governments to prevent our health systems from being overwhelmed are brave and necessary. They must be supported.
Walmart granting rent relief to 10,000 businesses Walmart is granting rent relief to about 10,000 businesses that operate on its premises in the US as concerns grow over how smaller enterprises can cope with the coronavirus shutdown. The world’s biggest retailer said it was offering to waive April payments for the hairdressers, restaurant franchises, community banks and other outlets that lease space in its stores.
Group of US banks commit to mortgage freeze for California residents Four of the five largest banks in the US have committed to a 90-day mortgage freeze for anyone in California affected by Covid-19, Governor Gavin Newsom announced. The participating banks are Citigroup, Wells Fargo, JPMorgan Chase and US Bank. The outlier is Bank of America, which only agreed to a 30 days “forbearance”.
French companies to receive €4bn of government aid to help laid-off workers Nearly 100,000 French companies will receive €4bn of government support for 1.2m employees temporarily laid off as a result of the coronavirus pandemic and the resulting lockdown, the labour ministry said.
Source: Economy - ft.com
