Paris – Shuttered shops, idle production lines, grounded planes — the COVID-19 pandemic has devastated several industries, from aviation and automobiles to retail and energy.
Here is a recap of some of the major casualties, amid layoffs, bankruptcies and rescue plans:
– Crash landing –
The pandemic has battered the air transport sector, with Australian carrier Qantas, the latest casualty, announcing it will slash 6,000 jobs.
Among the big-hitters in crisis are two Latin American carriers, including the region’s biggest airline LATAM, and Colombia’s Avianca, which have both filed for bankruptcy protection in the United States.
Global air traffic since 1945
Virgin Australia has also collapsed, going into administration in April.
Smaller airlines have gone under too, including South Africa’s Comair and South African Airways (SAA), Britain’s Flybe and four subsidiaries of Norwegian Air Shuttle.
Others have survived only with layoffs: nearly 45,000 job losses have been announced at American Airlines, 22,000 at Germany’s Lufthansa, at least 19,000 at Air Canada, 12,000 at British Airways, 10,000 at American Delta Air Lines, 5,000 at Scandinavia’s SAS and 4,500 at Britain’s EasyJet.
American United Airlines has shed 3,450 administrative staff, Britain’s Virgin Atlantic will slash 3,150 jobs, Ireland’s Ryanair (3,250) and Aer Lingus (900), Icelandair (2,000), Kuwait Airways (1,500), Brussels Airlines (1,000), Israel’s El Al (1,000), and Hungary’s Wizz Air (1,000).
Lufthansa CEO urges shareholders to approve rescue plan
Ground handling services have also been affected, with Swiss group Swissport planning to axe 4,000 jobs in Britain.
US plane manufacturer Boeing has announced 16,000 layoffs, and Canada’s Bombardier 2,500.
In the engine sector, General Electric and Britain’s Rolls-Royce have also slashed 12,600 and 9,000 jobs respectively.
Some governments have stepped in to limit the damage to their airlines: Germany has flown to the rescue of Lufthansa and Condor, France and the Netherlands have done the same for Air France-KLM, while Italy has decided to nationalise Alitalia.
The tourism sector is also reeling: the world’s biggest travel operator, TUI, will cut 8,000 jobs.
– Bumpy ride –
The automobile industry has also been hit massively by the pandemic. In the biggest signs of crisis, Renault will axe 15,000 jobs, and car rental company Hertz has filed for bankrupcy.
BMW will also cut 6,000 jobs while Nissan is planning to shutter a factory in Barcelona that employs 3,000.
Volvo Cars meanwhile will slash 1,300 white-collar jobs in Sweden and in Britain more than 6,000 jobs will be lost at Jaguar Land Rover, Aston Martin, Bentley and McLaren.
– Battered brands –
The pandemic has been fatal for many brands as their shops closed during lockdown.
In Germany the department store chain Karstadt Kaufhof will close a third of its shops and shed 6,000 employees.
Other department store chains to file for bankruptcy include Stage Stores in the US and Debenhams in Britain. French furniture retailer Alinea has done the same, while British rent-to-own retailer BrightHouse has gone into administration.
Travis Perkins, a British construction and DIY materials retailer, will close 165 sales outlets and slash 2,500 jobs.
In France, clothing brands including Andre, Naf Naf, La Halle and Camaieu have all gone into administration, while US clothing brands J.C. Penney and JCrew have filed for bankruptcy, as has the British clothing and household goods retailer Laura Ashley.
Among the restaurants, Britain-based Italian chain Carluccio’s, Chiquito and Food and Fuel in the US, and Germany’s Vapiano have all collapsed.
– Other hard-hit sectors –
The energy sector is also suffering. British energy giant BP has announced plans to axe nearly 10,000 jobs, domestic energy providers Centrica and OVO 5,000 and 2,600 jobs respectively, and French multinational Vallourec 900.
Texan drilling group Diamond Offshore and American hydrocarbon exploration group Petroleum Corporation have filed for bankruptcy.
Which economic sector is most at risk from the coronavirus?
In the digital sector, Uber, the ride-share and delivery business group, plans to get rid of 6,700 workers and its rival Lyft nearly 1,000. Airbnb and TripAdvisor have fired one fifth of their workforce.
Swiss logistics group Kuehne+Nagel also plans to lay off a quarter of its employees — more than 15,000 posts — and the British postal service the Royal Mail will scrap 2,000 jobs.
In the aid sector, NGO Oxfam will close 18 offices and cut nearly 1,500 jobs.