Airlines consumed $51 billion in cash in the second quarter as the pandemic brought global travel to a near-standstill, the industry body said.
Whereas the withdrawal of subsidies makes sense for sectors in recovery, IATA warned of further airline bankruptcies in the northern hemisphere winter as the collapse in revenue continues to dwarf cost savings. The average carrier now has cash for 8.5 months of operations, Brian Pearce, chief economist at the International Air Transport Association (IATA), told reporters

SCOR to strengthen regional focus,carves out “APAC Emerging Market’ to be headed by India’s Mukul K

Oct 5, 2020

“This has led us to create a new position of P&C Regional Head – of EMEA and the Americas respectively – on top of our existing APAC organization, and to re-organize the reinsurance teams into four different regions with more homogenous client needs, i.e. Europe, North America, APAC Mature markets, and Fast-Growth markets.” said SCOR Global P&C CEO Jean-Paul Conoscente ,

APAC Emerging Markets,that excludes SCOR’s operations in Japan, South Korea & ANZ, will be led by Mukul Kishore, who continues as the CEO of SCOR’s India branch operations

One in 10 may have caught COVID, as world heads into ‘difficult period’: WHO

Oct 5, 2020

“Our current best estimates tell us about 10% of the global population may have been infected by this virus. It varies depending on country, it varies from urban to rural, it varies depending on groups. But what it does mean is that the vast majority of the world remains at risk,” Ryan said. “We are now heading into a difficult period. The disease continues to spread.”

U.S. Supreme Court takes up energy companies’ appeal over climate damage lawsuit

Oct 5, 2020

The U.S. Supreme Court on Friday agreed to hear an appeal by energy companies including BP PLC, Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell PLC contesting a lawsuit by the city of Baltimore seeking damages for the impact of global climate change.

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