Virgin Australia's entry into administration could give any successful bidder for the country's second-biggest airline the chance to free it from a complex ownership structure that has slowed decision making and been blamed for years of losses.
Domestic air traffic is down 70% globally and the recovery over the coming six months is likely to be slow due to the damage coronavirus has done to economic conditions, the industry's representative body IATA said on Tuesday.
States should experiment with reopening their economies from their coronavirus shutdowns in order to save small businesses, CNBC's Jim Cramer said Tuesday.
Wall Street retreated for a second straight day on Tuesday as a collapse in U.S. crude prices and glum annual profit forecasts by companies foreshadowed the biggest economic slump since the Great Depression due to the coronavirus outbreak.
Those that have received Paycheck Protection relief designed for small business include publicly traded firms with thousands of employees.
Faltering consumer confidence will slow the recovery of air travel once coronavirus restrictions end, the sector's main global body warned on Tuesday, citing bleak new survey data.
The crash in U.S. crude prices has turned a reliable commodity less than worthless and given fresh urgency to bearish voices, who say it sounds alarm bells for global growth and are bracing for a catastrophic collapse in asset prices.
Benchmark Brent and U.S. oil futures for June delivery plunged to around two-decade lows on Tuesday, a day after U.S. May futures sank into negative territory for the first time in history as demand tumbled due to the coronavirus crisis.
Trading in the United States Oil Fund, a popular exchange-traded security known for its 'USO' ticker which is supposed to track the price of oil, was briefly halted Tuesday before the opening bell. It resumed trading and plunged 20%.
Chinese electric vehicle maker BYD Co Ltd , , which is backed by U.S. investor Warren Buffett, on Tuesday reported a 41.9% drop in 2019 net profit as China's EV subsidies cut hit customer demand.
U.S. home sales dropped by the most in nearly 4-1/2 years in March as extraordinary measures to control the spread of the novel coronavirus brought buyer traffic to a virtual standstill, supporting analysts' views that the economy contracted sharply in the first quarter.
French luxury goods group Kering said on Tuesday comparable sales fell by 16.4% in the first quarter, with its Gucci brand hit harder than its other labels due to its strong exposure to China at the start of the coronavirus outbreak.
"Know what you own" is an old adage when investing, but it is especially important when owning investments that hold futures contracts.
Qatar Airways on Tuesday said mid-level employees and above will have their salaries halved for at least three months but that staff would be back paid when the airline could afford it.
The top Republican in the U.S. House of Representatives said on Tuesday that a deal had been reached to replenish funding for an emergency program that extends loans to small businesses hit by a drop in demand due to the coronavirus pandemic.