U.S. air fares extend decline as Europe and Asia bottom out: Skytra

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FILE PHOTO: A member of a ground crew walks past American Airlines planes parked at the gate during the coronavirus disease (COVID-19) outbreak at Ronald Reagan National Airport in Washington, U.S., April 5, 2020. REUTERS/Joshua Roberts

PARIS (Reuters) – U.S. air fares are approaching a 40% decline and still falling while ticket pricing in Europe and Asia is bottoming out, according to data (here) published on Thursday by Skytra, an Airbus-owned (AIR.PA) airline-hedging business.

In the face of a widespread grounding of flights and coronavirus travel restrictions, airlines are offering heavy discounts on the services they

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American Airlines CEO says it ‘feels like we’re at the bottom’ as revenue tumbles 90%

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Doug Parker, CEO of American Airlines

Adam Jeffery | CNBC

The record drop in air travel demand because of the coronavirus pandemic appears to be as bad as it’s going to get,¬†American Airlines¬†CEO Doug Parker said Wednesday.

“It certainly feels like we’re at the bottom,” Parker told CNBC in an interview. “Our revenues are down 90% on a year-over-year basis and they’ve been that way now for a few weeks. The real question is how long you stay at the bottom and when do we begin to recover. I don’t think I know that better than anybody else.”

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When will U.S. economy bottom? Economists hunt for the right view

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WASHINGTON (Reuters) – The economic crisis spawned by the coronavirus pandemic has produced a wave of grim U.S. data, with likely more to come as millions lose jobs, businesses shutter and spending stops.

FILE PHOTO: People practice social distancing while spending time outdoors in the West Seattle neighborhood during the coronavirus disease (COVID-19) outbreak in Seattle, Washington, U.S. April 2, 2020. REUTERS/David Ryder

But at some point, the bottom will be reached.

Given how fast the situation has developed, judging when that happens in real time will prove challenging for economists who usually depend on monthly, quarterly or yearly trends

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