Hong Kong Disneyland reopens, consumers using less cash
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus.
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TRAVEL & LEISURE:
— Hong Kong Disneyland officially reopened on Thursday after a major drop in coronavirus cases in the Chinese territory. Advance reservations will be required and only limited attendance will be allowed at the park, one of the pillars of Hong Kong’s crucial tourism industry.
Social distancing measures are being implemented in lines, at restaurants, on rides and at shops, while cleaning and disinfecting will be increased. Visitors will have their temperatures checked at the entrance and will be required to wear masks at all times inside the park, except when eating and drinking.
Disney is planning to reopen its parks in California and Florida next month.
— Delta Air Lines says more than 40,000 of its 91,000 employees have agreed to take unpaid leave of up to a year, which along with a “moderate” increase in ticket sales is helping the airline cut its cash burn rate to $30 million a day by the end of this month. That is $10 million a day less than Delta forecast a week ago.
Delta has raised more than $14 billion in financing and expects to have $10 billion in available funds by year end. U.S. airlines face layoffs when federal payroll aid runs out in October unless air travel rebounds.
— Carnival's revenue nosedived in the second quarter as it was unable to sail any cruises.
The company hasn't sailed any cruises since mid-March. For the quarter, the cruise operator reported an adjusted loss of $2.38 billion on revenue of $700 million. A year earlier it had an adjusted profit of $457 million...
