Norwegian Air shares plummeted again on Tuesday, and are now trading down around 97% from their 2015 peak, with the airline's survival depending on creditors accepting a rescue plan proposed last week.

The South African government told specialists appointed to try to save South African Airways (SAA) that it was not able to give additional funds for rescue efforts, the specialists said on Tuesday.

Wizz Air is making plans to fly jets only two-thirds full to allow more space between passengers, it said on Tuesday, as airlines voiced concerns that anti-coronavirus measures could blight their profitability long after travel restrictions end.

Chinese airlines reported a total loss of 33.62 billion yuan (US$4.8 billion) in the first quarter as the coronavirus pandemic hit travel demand, the aviation regulator said on Wednesday.

Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, owing to the severity of the economic downturn and a slower than previously expected reopening of international routes.

Boeing Co on Tuesday reported another 75 cancellations for its 737 MAX jetliner in March, as the coronavirus crisis worsened disruptions from the grounding of its best-selling jet.

Delta Air Lines Inc confirmed on Tuesday it had taken over an order for 10 Airbus A350 jets from Latam Airlines Group, but said it had deferred several of the near-term deliveries and was working with Airbus on options across its entire order book.

The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a US$25 billion rescue package, ensuring airline workers have jobs until October while the industry battles its biggest-ever crisis.

Highlights

Brussels Airlines, a Lufthansa subsidiary, will receive state aid, its president Etienne Davignon told Belgian newspaper La Libre Belgique as airlines around the world face their biggest peacetime crisis due to the coronavirus pandemic.