(Reuters) – Leading U.S. airlines American (AAL.O) and Delta (DAL.N) suspended 2020 financial guidance on Tuesday and took drastic further measures to combat the impact of the coronavirus as the head of smaller rival Southwest took a 10% pay cut.
An American Airlines airplane sits on the tarmac at LAX in Los Angeles, California, U.S., March 4, 2019. Picture taken March 4, 2019. REUTERS/Lucy Nicholson/File Photo
The sector has been the hardest hit in the fast-spreading epidemic as tourists cancel trips and businesses across the globe clamp down on anything other than essential travel.
American, the No.2 U.S. airline by revenue last year, said it would cut domestic capacity by 7.5% in April and international by 10% for the upcoming summer season.
Delta, whose sales last year were marginally higher than American, said it was freezing hiring across the company, offering voluntary leave options to staff and looking at early retirement of older aircraft.
It said it had seen net bookings…
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