Middle Eastern carriers Emirates and Etihad have added more cities to their flight schedules as they resume limited services. Dubai-based Emirates will add services to Jakarta, Manila, Taipei, Chicago, Tunis, Algiers and Kabul, commencing 16 April. It said on 13 April: “Only citizens of the destination country and those who meet the entry requirements will be allowed to board.” On 6 April, the airline restarted outbound flights to London Heathrow, four times a week, and thrice weekly to Frankfurt. It says the new services mean it will recommence operations from Terminal 3 at Dubai International Airport. Meanwhile, UAE carrier Etihad said on 12 April it was adding additional “special” flights to Brussels, Dublin, London Heathrow, Tokyo Narita and Zurich between 14 and 22 April. That comes on top of other flights it is operating to Amsterdam, Melbourne, Seoul, Singapore, Manila, Jakarta between 8 and 21 April. These flights allow passengers stranded in the UAE to return home, the carrier says. The return sectors enable Etihad to repatriate UAE citizens and bring fresh produce in the bellies of its aircraft back to Abu Dhabi. Emirates and Etihad were forced to suspend all passenger services from 25 March following a decision by the UAE government to ground inbound, outbound and transit flights.

Source: Cirium

Moody's Investors Service has downgraded the senior unsecured debt ratings of Boeing and its finance arm Boeing Capital Corporation due to strain on the company's financials and uncertainty of the coronavirus's impact on demand for new aircraft. The rating has fallen one notch to 'Baa2' from 'Baa1' and the outlook is negative, Moody's said in a rating report published 10 April. "The coronavirus is likely to become a significantly greater pressure point on Boeing than the long-running 737 Max crisis," stated Moody's senior vice president and lead analyst Jonathan Root. Moody's said that the "near-term impact of the coronavirus is acute". "The potential for order deferrals and cancellations is a material risk factor, fueled by expected significant reductions in airlines and aircraft lessors' fleet sizes and/or orderbooks for indeterminate time periods." On 11 March, Air Canada cancelled an order for 11 Boeing 737 Max jets, while Avolon announced on 3 April that it would cancel 75 of the type. With more than half the global fleet grounded due to the health crisis and evaporating demand, more cancellations are expected at both Boeing and Airbus. As for the company's financials, Moody's said Boeing remains investment-grade, "albeit tempered by considerable operational and financial risk in upcoming years". "We now estimate external funding needs in 2020 to at least double – to $30 billion – compared to our pre-coronavirus expectations," said Root, noting that Boeing has funded about half of this need with the $13.8 billion delayed-draw term loan facility arranged in February. "Inherent in the company's ratings is also Moody's' expectation that Boeing would avail itself of support from the US government, via one or more loan programs, possibly including the Primary Market Corporate Credit Facility, to the extent that this may be needed," the agency added. The CARES Act – the US government's coronavirus aid programme – makes available $17 billion for businesses important to maintaining national security, which is widely believed to include Boeing. On 24 March, IATA director general Alexandre de Juniac said that if governments did not act to provide liquidity to the industry urgently, "half the companies [airlines]" face collapse "in the coming weeks".

Source: Cirium

Major Japanese carriers have shrunk domestic schedules after the country entered a state of emergency to try and halt the spread of Covid-19. This applies to Tokyo, Osaka, and five other prefectures, and was effective 8 April. It takes the form of a request rather than an order, but gives authorities more power to encourage people to stay home and businesses to close. In response, Japan Airlines (JAL) said on 10 April it was stepping up cuts to its domestic network over the next couple of weeks. From 12-19 April, JAL is increasing average daily flight reductions by 194 to 415, meaning its domestic network has been cut by 49% for that period. By comparison, its domestic network was reduced by 16% between 6-28 March. For the rest of April, its domestic network will be reduced by about 32% compared to its normal schedule. In a 9 April update, All Nippon Airways (ANA) said it was changing flight frequencies for certain cities, affecting a total of 1,523 flights serving 56 routes. A scan of the schedules indicates frequencies on ANA's domestic routes affected are roughly halved. AirAsia Japan will also halt all domestic flying with from 9-30 April.

Source: Cirium