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The U.S. carrier had earlier planned to reduce its April capacity by at least 10% and May capacity by at least 15%.

U.S. stocks rocketed higher on Monday, with each of the major indexes rallying at least 7%, after a fall in the daily death toll in New York, the country's biggest coronavirus hot spot, fueled optimism a leveling off of the pandemic was on the horizon.

With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot's owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger.

As the government's $350 billion loan program gets underway, small business owners are anxiously awaiting notice from their lenders about loan approvals.

President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, which have been hard-hit by the economic fallout of the coronavirus pandemic.

Alaska's congressional delegation warned U.S. Treasury Secretary Steven Mnuchin last week that many of its airlines, including its largest regional carrier, RavnAir Group, were on the verge of collapse, according to a letter seen by Reuters.

With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot's owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger.

Oil rose on Tuesday amid hopes that the world's biggest producers of crude will agree to curtail production as the coronavirus pandemic ravages the global economy, even as analysts cautioned the cuts may do little to boost demand.

Governors of New York, New Jersey and Louisiana pointed to tentative signs on Monday that the coronavirus outbreak may be starting to plateau but warned against complacency as the death toll nationwide topped 10,000 and the number of known infections surpassed 360,000.

Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely rose 3% from a year earlier, slightly beating analysts' forecasts as chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.

Asian markets looked poised on Tuesday to attempt another day of gains after stocks rallied on signs of a slowdown in coronavirus-related deaths, as oil prices resumed their decline on doubts about a potential Saudi-Russian pact to cut output.

Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.

Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe.

The governors of New York, New Jersey and Louisiana pointed to tentative signs on Monday that the coronavirus outbreak may be starting to plateau in their states but warned against complacency as the death toll nationwide approached 11,000.

The possibility of JPMorgan cutting its dividend is likely to reverberate among bank investors and analysts.