Nirankari sect head Baba Hardev Singh killed in Canada accident: reports

New Delhi, Mar 16: Due to the coronavirus pandemic, most airlines in the world will be bankrupt by the end of May and only a coordinated government and industry action right now can avoid the catastrophe, said global aviation consultancy firm CAPA in a note on Monday.

"As the impact of the coronavirus and multiple government travel reactions sweep through our world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants," it stated.

Across the world, airlines have announced drastic reduction in their operations in the wake of the coronavirus outbreak. For example, Atlanta-based Delta Air Lines stated on Sunday that it would be grounding 300 aircraft in its fleet and reduce flights by 40 per cent.

The US has suspended all tourist visas for people belonging to the European Union, the UK and Ireland. Similarly, the Indian government has suspended all tourist visas and e-visas granted on or before March 11.

CAPA, in its note on Monday, said, "By the end of May-2020, most airlines in the world will be bankrupt. Coordinated government and industry action is needed - now - if catastrophe is to be avoided."

Cash reserves are running down quickly as fleets are grounded and "what flights there are operate much less than half full", it added.

"Forward bookings are far outweighed by cancellations and each time there is a new government recommendation it is to discourage flying. Demand is drying up in ways that are completely unprecedented. Normality is not yet on the horizon," it said.

India's largest airline IndiGo -- which has around 260 planes in its fleet -- said on Thursday that it has seen a decline of 15-20 per cent in daily bookings in the last few days.

The low-cost carrier had stated that it expects its quarterly earnings to be materially impacted due to such decline.

CAPA said the failure to coordinate the future will result in protectionism and much less competition.

"The alternative does not bear thinking about. An unstructured and nationalistic outcome will not be survival of the fittest.

"It will mostly consist of airlines that are the biggest and the best-supported by their governments. The system will reek of nationalism. And it will not serve the needs of the 21st century world. That is not a prospect that any responsible government should be prepared to contemplate," the consultancy firm said.

Tehran, Feb 28: The coronavirus epidemic in Iran has cost 26 lives, the health ministry announced Thursday, with a vice president becoming the latest top official to be infected as the spread appeared to accelerate.

Health ministry spokesman Kianoush Jahanpour told a news conference that the tally of infections had risen to 245 with 106 more cases confirmed -- the highest number for a single day since Iran announced its first infections on February 19.

The Islamic republic has the highest death toll from the virus outside China, where COVID-19 first emerged.

Among the latest coronavirus sufferers is one of Iran's seven vice presidents, Massoumeh Ebtekar, who oversees women's affairs.

Ebtekar, a former spokeswoman for students who took 52 Americans hostage at the US embassy in Tehran in 1979, is being treated at home and members of her team have been tested, state news agency IRNA reported.

Mojtaba Zolnour, head of parliament's national security and foreign affairs committee, also contracted the virus, appearing in a video posted by Fars news agency saying he was in self-quarantine.

The cleric is a deputy for the Shiite holy city of Qom in central Iran where the country's first cases were detected.

According to media reports, among the deceased in Qom on Thursday was theologian Hadi Khroroshahi, who in 1981 was named Iran's first ambassador to the Vatican.

The announcement by Zolnour comes two days after another top official, deputy health minister Iraj Harirchi, head of the government's coronavirus task force, said he too had contracted the virus.

On Wednesday, Iranian authorities announced domestic travel restrictions for people with confirmed or suspected infections.

They also placed curbs on access to major Shiite pilgrimage sites, including the Imam Reza shrine in second city Mashhad and the Fatima Masumeh shrine in Qom.

Visitors to the shrines will be allowed to visit on condition they are provided "with hand-washing liquids, proper (health) information, masks", Health Minister Saeed Namaki said.

They must "not gather together in groups but just pray and leave", he said.

In a rare move, authorities announced the cancellation of the main Friday weekly prayers in Tehran, Qom and Mashhad as well as in the capitals of 22 of Iran's 31 provinces and other infected areas.

"All of these decisions are temporary and if the situation changes, we might intensify or ease them," Namaki said.

Mar 30: Thomas Schaefer, the finance minister of Germany's Hesse state, has committed suicide apparently after becoming "deeply worried" over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday.

Schaefer, 54, was found dead near a railway track on Saturday. The Wiesbaden prosecution's office said they believe he died by suicide.

"We are in shock, we are in disbelief and above all we are immensely sad," Bouffier said in a recorded statement.

Hesse is home to Germany's financial capital Frankfurt, where major lenders like Deutsche Bank and Commerzbank have their headquarters. The European Central Bank is also located in Frankfurt.

A visibly shaken Bouffier recalled that Schaefer, who was Hesse's finance chief for 10 years, had been working "day and night" to help companies and workers deal with the economic impact of the pandemic.

"Today we have to assume that he was deeply worried," said Bouffier, a close ally of Chancellor Angela Merkel.

"It's precisely during this difficult time that we would have needed someone like him," he added.

Popular and well-respected, Schaefer had long been touted as a possible successor to Bouffier.

Like Bouffier, Schaefer belonged to Merkel's centre-right CDU party.

He leaves behind a wife and two children.