Google and Facebook also canceled their
flagship developers conferences in the face of
coronavirus health concerns.
Meanwhile, Berkshire Hathaway chairman
Warren Buffett told shareholders that they won’t
be allowed to physically attend the company’s
May 2 annual meeting in Omaha, Nebraska,
because of the coronavirus threat.
The virus has infected 137,000 people
worldwide. Most patients have only mild or
moderate symptoms, but the elderly and people
with existing health conditions are particularly
vulnerable. More than 5,000 have died.
FLYING LOW
Delta is slashing its flying by 40% to handle an
unprecedented nosedive in air travel demand.
It’s the largest cut in Delta’s history.
CEO Ed Bastian said the downturn in demand
is unlike anything the company has ever seen,
not even after the Sept. 11 attacks. He said he’s
optimistic about getting help from the White
House and Congress. But, he said, Delta can’t
wait for Washington to act, so it is preserving
cash and cutting costs.
Treasury Secretary Steven Mnuchin said
Washington will consider aid for the airline
industry. “Just as after Sept. 11, we are very
committed to make sure that our U.S. airlines
have the ability and have the liquidity to get
through this,” Mnuchin told CNBC.
The federal government provided aid including
loan guarantees to U.S. airlines after the terror
attacks of Sept. 11, 2001, when the number of
people flying also dropped sharply.