London (CNN Business)Global aviation is shutting down because of the coronavirus outbreak and travel restrictions designed to contain it, and many airlines will need government bailouts within weeks or face bankruptcy.Airlines across the world are grounding planes, laying off workers and scrambling to preserve cash as measures to contain the outbreak prompt flight bans and wipe out global travel demand.The three biggest global airline alliances, oneworld, SkyTeam and Star Alliance, urged governments to “evaluate all possible means” to assist the industry. They represent more than 58 of the world’s leading carriers. Some European airlines have already…
Most airlines could be bankrupt by May. Governments will have to help
