Coronavirus grounds more than 10,000 planes
Thousands of airplanes around the world are grounded due to lack of travel amid coronavirus. FOX Business’ Jeff Flock with more.
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Woes continue to mount for major airlines that are being forced to park a record number of planes due to historically low demand for flights due to the COVID-19 pandemic.
About 10,500 passenger aircraft, roughly 40 percent of the world's fleet, have been grounded as travel restrictions increase to stem the rapidly spreading virus, according to the International Air Transport Association. In the United States, Delta and American — two of the nation's largest carriers — plan to ground more than 1,000 planes combined.
The Transportation Security Administration screened 94,931 passengers Wednesday, compared to more than 2.2 million at the same point a year ago, marking a 96 percent decline. This was also the second straight day under 100,000 passengers. The nation last averaged fewer than 100,000 passengers a day in 1954, according to figures from trade group Airlines for America.
The decline is projected to translate into a multibillion-dollar revenue loss. Last month, IATA estimated that global industry passenger revenues could plummet $252 billion, or 44 percent, from 2019.
United Airlines says it is losing $100 million a day while Delta says it is burning through $60 million a day. All the leading U.S. carriers have applied for federal grants to cover payroll costs through September and some are likely to seek federal loans or loan guarantees.
CORONAVIRUS FORCES AMERICAN AIRLINES TO TEMPORARILY SUSPEND MOST NYC FLIGHTS
As the number of parked planes pile up, however, airlines begin to face the unprecedented challenge of where to place them.
Around the world, airlines are working to move their fleet "close to home" which includes taxiways, maintenance areas, terminal areas as well as some runways, the IATA said.