Transport companies: How the 'banks of 2008' will cope

Airlines hardest hit by coronavirus outbreak

Transport companies globally will require "system-wide" government bailouts as the banks did in 2008, but it is still unclear how this will be achieved, according to managers and analysts.

The travel sector has been one of the hardest hit industries in the coronavirus market sell-off, as countries continue to close their borders and ban all non-essential travel. The FTSE 350 Travel & Leisure sector index has fallen by 57% between 20 February and 18 March, according to FE fundinfo data. Airlines have cut routes, reduced costs and slashed dividend payments, with further measures imminent. Market Movers Blog: FTSE recovers over 5% Cruise ship operator Carnival, meanwhile, has suspended operations across multiple brands and is likely to also cut its dividend. US ai...