The no-frills airline said it did not expect a recovery in passenger numbers or pricing to return to pre-coronavirus levels for at least two years – until summer “At the earliest.”
Good morning, and welcome to our live coverage of business, economics and financial markets.
It’s May Day , and those stock markets that are not on holiday have started the month with a nasty fall , taking their lead from disappointments last night on Wall Street.
Wall Street recorded its best month since in April – thanks to the timing of the rebound from the market bottom in March – and easing lockdowns is the talk of major economies. Yet corporate earnings are reflecting the grim reality of the costs being borne by companies.
In Japan the Nikkei fell by 2.8%. The FTSE is expected to suffer a jolt when it opens in a few minutes’ time. Most other European markets are closed for the holiday, but the following data based on spreadbetting activity gives a rough indication of sentiment:
IGSquawk (@ IGSquawk)
European Opening Calls: (# FTSE (-1.) (%) # DAX -4. (%) (# CAC) 6791 -4. (%) # AEX 4. (%) # MIB 177867 -2. (%) (# IBEX (-3.) % # OMX