COVID-19: CAPA says most airlines will be bankrupt by May-end unless there is coordinated government-industry action

News Network
March 16, 2020

New Delhi, Mar 16: Due to the coronavirus pandemic, most airlines in the world will be bankrupt by the end of May and only a coordinated government and industry action right now can avoid the catastrophe, said global aviation consultancy firm CAPA in a note on Monday.

"As the impact of the coronavirus and multiple government travel reactions sweep through our world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants," it stated.

Across the world, airlines have announced drastic reduction in their operations in the wake of the coronavirus outbreak. For example, Atlanta-based Delta Air Lines stated on Sunday that it would be grounding 300 aircraft in its fleet and reduce flights by 40 per cent.

The US has suspended all tourist visas for people belonging to the European Union, the UK and Ireland. Similarly, the Indian government has suspended all tourist visas and e-visas granted on or before March 11.

CAPA, in its note on Monday, said, "By the end of May-2020, most airlines in the world will be bankrupt. Coordinated government and industry action is needed - now - if catastrophe is to be avoided."

Cash reserves are running down quickly as fleets are grounded and "what flights there are operate much less than half full", it added.

"Forward bookings are far outweighed by cancellations and each time there is a new government recommendation it is to discourage flying. Demand is drying up in ways that are completely unprecedented. Normality is not yet on the horizon," it said.

India's largest airline IndiGo -- which has around 260 planes in its fleet -- said on Thursday that it has seen a decline of 15-20 per cent in daily bookings in the last few days.

The low-cost carrier had stated that it expects its quarterly earnings to be materially impacted due to such decline.

CAPA said the failure to coordinate the future will result in protectionism and much less competition.

"The alternative does not bear thinking about. An unstructured and nationalistic outcome will not be survival of the fittest.

"It will mostly consist of airlines that are the biggest and the best-supported by their governments. The system will reek of nationalism. And it will not serve the needs of the 21st century world. That is not a prospect that any responsible government should be prepared to contemplate," the consultancy firm said.

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News Network
January 19,2026

New Delhi: Setting speculation to the rest, the CPI(M) has made it clear that it is open to have an electoral understanding with the Congress “to defeat” the Trinamool Congress and the BJP in West Bengal Assembly election even as it is all set to take on the grand old party in Kerala accusing it of “found wanting” in fighting the Hindutva forces.

The CPI(M) also said that it will contest the Tamil Nadu election “with DMK and its allies to defeat the BJP and its allies”, amid a section in the Congress triggering confusion about its participation in the M K Stalin-led coalition over demand over power-sharing and more seats. It is also willing to join hands with Congress and others in Assam and Puducherry to defeat the BJP.

The decisions came at a three-day meeting of the CPI(M) Central Committee in Thiruvananthapuram, which ended on Sunday after reviewing the poll preparations in the poll-bound states.

The CPI(M)'s decision came even as a section led by West Bengal Congress president Subhankar Sarkar is averse to tying up with the Left Front, claiming that their party is not benefitted by the electoral understanding. Both Congress and CPI(M)-led Left Front had electoral understanding in 2016 and 2021 Assembly elections and 2024 Lok Sabha polls.

Congress and the Left Front fought together for the first time in 2016 when Congress won 44 seats and the CPI(M) got 26. In 2021, the Left Front and the Congress drew a blank. In the 2024 Lok Sabha polls, Congress managed to win one seat while the Left did not win any. In the 2019 Lok Sabha polls, both fought against each other with Congress winning two and the Left none.

“In Bengal, the party will work for the defeat of both the TMC and the BJP, which are trying to polarise the society. We will try to rally all the forces that are ready to work against them,” the CPI(M) said in a statement without naming Congress by name. Senior leaders said there is no change in its strategy of pooling all non-BJP, non-TMC votes.

However, the party was critical of the Congress in Kerala where both will fight against each other.

The CPI(M) said it would "expose the BJP-led Union government’s denial of rightful dues to Kerala, the fiscal constraints imposed and the overall attack on federalism" as also "expose the failure of the Congress to effectively counter this attack on federalism, as the largest opposition party in the Parliament".

"The Congress, especially in Kerala, was found wanting in the fight against communal RSS-BJP, ideologically and this will also be exposed before the people," it added.

In Assam, it said, the CPI(M) will work for the mobilisation of all the anti-BJP parties and forces and defeat the rabidly communal and divisive BJP government. The Left parties are cooperating with Congress in the north-eastern state. In Puducherry, it said it will work for the defeat of the BJP alliance government.

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News Network
January 23,2026

modIKERALA.jpg

Prime Minister Narendra Modi, during his visit to Thiruvananthapuram on Friday, January 23, indicated that the Bharatiya Janata Party (BJP) is aiming to expand its political footprint in Kerala ahead of the Assembly elections scheduled in the coming months.

Speaking at a BJP-organised public meeting, Modi drew parallels between the party’s early electoral gains in Gujarat and its recent victory in the Thiruvananthapuram Municipal Corporation. The civic body win, which ended decades of Left control, was cited by the Prime Minister as a possible starting point for the party’s broader ambitions in the state.

Recalling BJP’s political trajectory in Gujarat, Modi said the party was largely insignificant before 1987 and received little media attention. He pointed out that the BJP’s first major breakthrough came with its victory in the Ahmedabad Municipal Corporation that year.

“Just as our journey in Gujarat began with one city, Kerala’s journey has also started with a single city,” Modi said, suggesting that the party’s municipal-level success could translate into wider electoral acceptance.

The Prime Minister alleged that successive governments led by the Left Democratic Front (LDF) and the United Democratic Front (UDF) had failed to adequately develop Thiruvananthapuram. He accused both fronts of corruption and neglect, claiming that basic infrastructure and facilities were denied to the capital city for decades.

According to Modi, the BJP’s control of the civic body represents a shift driven by public dissatisfaction with the existing political alternatives. He asserted that the BJP administration in Thiruvananthapuram had begun working towards development, though no specific details or timelines were outlined.

Addressing the gathering at Putharikandam Maidan, Modi said the BJP intended to project Thiruvananthapuram as a “model city,” reiterating his party’s commitment to governance-led change.

The Prime Minister’s visit to Kerala also included the inauguration of several development projects and the flagging off of new train services, as the BJP intensifies its political outreach in the poll-bound state.

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News Network
February 1,2026

US President Donald Trump on Saturday claimed that the government of India led by Prime Minister Narendra Modi has made a deal to buy Venezuelan oil, as opposed to purchasing it from Iran.

"We've already made that deal, the concept of the deal," he told reporters on Air Force One.

Trump had imposed 25% tariffs on countries buying Venezuelan oil, including India, in March 2025. He had also hit India with tariffs for buying Russian oil, saying it was "funding" President Vladimir Putin's war against Ukraine.

Trump has said that the US has taken control of the oil-rich Venezuela after capturing former President Nicolas Maduro in January.

A fleet of 18 ships loaded with crude oil bound for refineries in Texas, Louisiana, and Mississippi in January, the most since December 2024, according to a report by the news agency Bloomberg.

Combined crude deliveries to the US will reach about 2,75,000 barrels a day, more than doubling volumes seen in December last year. Shipments to China, which averaged 4,00,000 barrels a day last year, fell to zero in January.

PM Modi, Venezuelan President Agree To Expand Ties

Prime Minister Narendra Modi and Venezuela's acting President Delcy Rodriguez spoke on Friday and agreed to take the bilateral relations to "new heights" in the years ahead.

It was the first phone call between the two leaders since the capture of Maduro and his wife by the US on January 3.

"Spoke with Acting President of Venezuela, Ms. Delcy Rodriguez. We agreed to further deepen and expand our bilateral partnership in all areas, with a shared vision of taking India-Venezuela relations to new heights in the years ahead," PM Modi said in a post on X.

A statement from Prime Minister Modi's office said the two leaders agreed to further expand and deepen the India-Venezuela partnership in all areas, including trade and investment, energy, digital technology, health, agriculture, and people-to-people ties.

They exchanged views on various regional and global issues of mutual interest and underscored the importance of their close cooperation for the Global South, the statement said.

Rodriguez also said that they discussed partnerships in the fields of agriculture, science and technology, mining, and tourism, as well as the pharmaceutical and automotive industries.

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