Clear skies: new curbs mean fresh hit for airlines

Fresh curbs on air travel meant yet more grounded airliners Monday (March 23).

New restrictions came into force in countries including India, Australia, New Zealand, the UAE, Singapore and Taiwan.

Globally the number of scheduled flights last week was down 12% on a year ago according to industry data provider OAG.

Few would bet against this week's drop being even bigger.

Among the latest measures...

India's airlines must cease all domestic passenger flights from midnight Tuesday.

Hong Kong, Singapore and Taiwan are taking steps to ban foreign transit passengers.

The UAE - home to global airline Emirates - is suspending all passenger services for two weeks.

Singapore Airlines called the situation the greatest challenge in its history.

It's reached agreement with unions on cost cutting measures.

That includes unpaid leave affecting about 10,000 staff.

Meanwhile the pain deepens for planemakers too.

Airbus on Monday dropped its financial guidance for the year.

It also said it had arranged a new 15 billion euro backup credit facility.