that two-year tough sell go along with customers like boeing and airbus? are you hearing about the of then and the depth slow down, and concurrently, the spin back to you? greg: we have been having discussions all along with boeing and airbus. i will not speak to them. they are still trying to figure that out for us from a demand standpoint. you have to go airline to airline and see what they are planning to do with capacity cutbacks, how many airplanes they will take this year, next year. there is plenty of work to do in the backlog, and i don't expect to see a lot of cancellations. i think when you will see, just like you did after 9/11 and the financial crisis, some deferrals. i suspect boeing and airbus will have a much better review of that, which will inform us on what we need to do on the production floor. right now, we are trying to keep the factories open. not only do they have the commercial aerospace but also defense-related components. it is important to keep the factories open to keep our workforce safe. that is the current challenge. i think

the airline industry is one of the sectors worst hit by the coronavirus pandemic playmakers boeing and airbus of both posted 1st quarter losses of more than half a 1000000000 dollars meanwhile british airways says it expects to layoff 12000 staff john hendren has been following developments from chicago he says the pandemic is amplified big problems for boeing. for boeing these numbers were worse even than analysts expected it was hit by a double whammy 1st the company has been trying for a year to get its 737 max plane back up in the air that's its new most lucrative plane in that happen after 2 crashes the killed nearly 350 people is now hoping to get that plane back out mid-year but meanwhile it's losing revenue from that and then along came the coronavirus and the global pandemic just wiped out traffic the c.e.o. of boeing dave calhoun says passenger traffic in commercial airplanes is down 105 percent and that has just walloped the company airbus is down to half a $1000000000.00 in losses the c.e.o. of that company says this is the grave is crisis the aerospace industry has ever seen and

economy boeing rival airbus also posted a $521000000.00 loss in what it c.e.o. calls the greatest crisis the aerospace industry has ever known analysts say boeing and airbus will have to restructure for a new marketplace and compete with their own cheaper used planes languishing on tarmacs around the globe they're all dressed up they've got nowhere to go the reason being there isn't any crap and certainly across the pacific coast that news europe not many people are planning a trip to the lake countries of italy right now so it's going to be a long time they're going to readjust and be a smaller company. although the global pandemic took just months to ground much of the aviation industry analysts say it will take years to arrive in a new normal john hendren jazeera chicago. nearly half of the world's workers are in danger of losing their livelihoods because of the pandemic the un's international labor organization is forecasting that up to 1600000000 people working in the informal economy could be out of a job most of them have no welfare protection nor access t

economy boeing rival airbus also posted a $521000000.00 loss in what its c.e.o. calls the greatest crisis the aerospace industry. as ever known analysts say boeing and airbus will have to restructure for a new marketplace and compete with their own cheaper used planes languishing on tarmacs around the globe you're all roughed up and got no where to go even being there isn't any crap and certainly across the pacific coast bad news europe not many people are planning a trip to the great country of italy right now so it's going to be a long time they're going to readjust and be a smaller company although the global pandemic took just months to ground much of the aviation industry analysts say it will take years to arrive at a new normal john hendren jazeera chicago now the international monetary fund has approved emergency funding and sold 3400000000 dollars from nigeria it's a colony relies heavily on oil revenue which has been hard hit by the unprecedented drop in demand and would address has more from. hours before the international monetary fund and now the $3400

economy boeing rival airbus also posted a $521000000.00 loss in what its c.e.o. calls the greatest. prices the aerospace industry has ever known analysts say boeing and airbus will have to restructure for a new marketplace and compete with their own cheaper used planes languishing on tarmacs around the globe you're all roughed up they've got nowhere to go even being there isn't any crap and certainly across the pacific coast bad news europe not many people are planning a trip to the lake generally right now so it's going to be own long time they're going to readjust and be a smaller company although the global pandemic took just months to ground much of the aviation industry analysts say it will take years to arrive at a new normal john hendren chicago other appears to be positive news for the treatment up front top u.s. infectious disease advisor dr anthony found she says seeing progress in trials with the antiviral drug render severe she says the average recovery time was cut from 15 to 11 days while the u.s. national institutes of health reported that they will toilet seat rate dr

this will be -- this will weaken boeing. airbusoblems and is warning staff it is leaking money and meets urgent -- needs urgent cost cuts. a letter obtained by bloomberg said a production cut of up to one third is already announced and could not be the worst case scenario. airbus is reassessing the long-term outlook for aviation. virgin atlantic is said to be considering a range of rescue plans including tapping u.k. government loans. talks are in the early stages although richard branson's request for funding has left -- met with government resistance. offer any it will not assistance and now virgin atlantic is facing insolvency. bank: national australia plans to raise $2.2 billion u.s. , prompting the lender to slash its dividends. is our editor. great to have you. this was a surprise on so many fronts. in terms of the expectations, we were not going to get earnings today. >> that is right. big announcement that has taken everybody by surprise. they were not expected to announce first half earnings until next week. breaking down

all but disappeared wednesday will be a big day forr the aviation industry which results from boeing airbus and safran among others. k. moody our business editor always a pleasure to see thank you very much indeed stay safe. that's a this bulletin stay with us more to come you're watching france twenty four. moral of seven put in motion hello hello the mumughals honest to do the way here at- a your phones. at limits on the hi joel with his job will be va from rfifi radio hello. one on the fat helello ad hello hello i'm actually pleased to see e you again. what i saidid was that so much and your- not gonna make research- with basins post personalized.. a week. and the film m heard yo- he- or on the try. we have had. for homes info job also people. in june e law y year you were r. in a a- as you were a- big to. a free byy i'll about. your. pardon she's a specialized. . fr a she you werere released on the twentieth of march shehe still impress at alfa present crown yoyou were accused of cririmes against the state propaganda eccentric but what happened onn the fiftfth of june t twenty nininetee

how does this change boeing and airbus? challenges for both oems.llenge is trying to calibrate how many aircraft they are producing at the moment. we are entering a new world when it comes to demand for aircraft and that will be interesting to see exactly how airbus calibrates their process, how much do they slow the lines down , how quickly can they ramp them up where the demand to return. we should not lose sight of the fact that in the medium-term, the airlines will remain under pressure to operate the most fuel-efficient and environmentally sustainable aircraft they can. that pressure will not dissipate pressure onbe put the air framers and manufacturers to make that work. for boeing, it is all about liquidity. take my business forward to a place where i have the max back in the air and have put most of my staff back on the line and am producing airlines -- airplanes? it is somewhat easier for airbus. boeing entered it with the max crisis. tom: i could go all day with guy johnson, his expertise on particularly the national carriers of alitalia a

competitors, you take a look at boeing and airbus and the stocks over the course of this year, remember, it's cutting productions by more than a third. boeing's commercial backlog is just over 5,000 planes many analysts on wall street expect over the course of the next few weeks we expect to hear from boeing it's cutting its production schedule. take a look at shares of united. it's selling 22 of its planes to an be asian leasing firm it will lease back these aircraft after the sale is completed. many of these are 737 maxs yet to be delivered to united. now they'll be delivered to united but owned technically by this asian leasing firm. this is all part of giving the company more financial flexibility, if you will, in the future, when it comes to its balance sheet. >> they might need it because, phil, i'm sure you saw this, i hope i'm not putting on the spot there was a reuters report out that there's one major international bank in china that is canceling orders for about 30 737 max today. >> that's the china development bank we'll see more of this, brian. not just because yo

. >> hoyt says boeing, airbus and other manufacturers have manuals with procedures on short, medium andrm storage of airplanes. he says the flying public shouldn't worry about the safety of airplanes already in airline fleets when they're back to full strength. in oakland, eric thomas, abc 7 news. >>> all right. plenty of blue sky today. >> but maybe not the next couple of days. meteorologist sandhya patel has the forecast. sandhya? >> yeah, dan and am a. it will be a good weekend to get you from going outside because it's going to be a wet one all weekend long. take a look at live doppler 7. obviously, we're sheltering in place. tomorrow there's a storm coming in. the stronger storm is sunday. both out of the gulf of alaska. one on the storm impact scale. rain, wind. the gusty winds on sunday. there will be a chance of thunder, hail and the snow level will be lowering between 3,000 and 4,000 feet by sunday night into monday. 7:00 a.m., the hourly timeline showing you the wet weather beginning to arrive. spreading by 11:00 a.m. as we head into the afternoon, look for scattered showers,

monday brought even more bad news for the 2 of the largest aerospace companies in the world at boeing and airbus in fact boeing shares traded lower on monday after the plane maker dropped plans for a $4200000000.00 joint venture with brazil's embraer now the deal was 2 years in the making but was canceled on saturday after a deadline passed to bridge gaps in the agreement between the 2 companies but embers says that it was boeing that wrongfully terminated the agreement joining us now to discuss his book the toast and investigative journalist ben swan is been following this story for us ben thank you for joining us on this why would boeing attempt to get out of this agreement if that is in fact what they actually did well i think they're trying to get out of it for a couple of reasons 1st of all remember as you just said there correctly so this is a deal that's been 2 years in the making and in 2 years ago boeing was in a very different position position that it is now keep in mind this was all before the 737 max jets began to crash in boeing's production line went offline before boeing started

airbus get an advantage because of this? i think what we have is a market share across boeing and airbus and we will see a shift on the narrowven the max issues and what we heard about on saturday. we are seeing a shift on the narrow bodies longer-term where boeing seeds -- cedes some share. that is where the airbus advantage comes in longer-term, on the narrow bodies. boeing is more positively positioned on the wide bodies, demonstrated by the 787, it has been sold to 70 airlines, 40 have come back for repeat. that has been a huge success. guy: what happens to the middle of the market, the 767 replacement, does boeing have the cash to make that airplane, and if it does not is it seating ing more ground to airbus? sheila: sure. i think the nma is off the table. the middle-market aircraft is probably not the most cost-effective option. the 787 has been so successful. mma --ills that route nma would fly. i think it is looking forward and what is the next future small aircraft look like? what is the next generation max and neo look like in 2030? that is where the product focus will be going forward. certainly the nma is off the

we just heard their aircraft makers in the airlines which are themselves in deep trouble can airbus and boeing really hold out. it's certainly a grim outlook right now for both of these aerospace giants we heard airbus c.e.o. today describe this as the grave this crisis in the history of the industry and obviously this makes sense if nobody is flying if nobody's using their planes that's going to bleed down into them to them as well they have already seen a lot of a lot of their orders being canceled they're not seeing any new orders right now so they are just seeing a big big cutback and demand and what we're hearing from both air bust and boeing is that they expect this to last for years that they don't think air travel will recover for several years so they are having to take steps to conserve liquidity right now the they're really focusing now on keeping cash on hand and they also like the airlines are going to have to possibly get support from governments francis so that they could support airbus and boeing had made some overtures to the u.s. to get state funding but ended up going back a

economy boeing rival airbus also posted a $521000000.00 loss in what it's called the greatest crisis the aerospace industry has ever known. analysts say boeing and airbus will have to restructure for a new marketplace and compete with their own cheaper used planes languishing on tarmacs around the globe you're all grown up and got no where to go really being there isn't any certainly a product of a separate post about bad news europe not many people are planning a trip to the lake cookery of italy right now so it's going to be only long time they're going to readjust and be a smaller company although the global pandemic took just months to ground much of the aviation industry analysts say it will take years to arrive at a new normal john hendren and jazeera chicago. well it speak to patrick peregrina international economist who heads of research at adv acro he joins us live now from london sir thank you so much for joining us here on al-jazeera an incredibly bleak picture that's being painted there the u.s. economy in trouble and the jerry at that the heart of the african economy germ

the airline industry is one of the sectors worst hit by the coronavirus pandemic playmakers boeing and airbus of both posted 1st quarter losses of more than half a $1000000000.00 meanwhile british airways says it expects to layoff $12000.00 staff john hendren has been following developments from chicago he says the pandemic is amplified big.

another by boeing, airbus, airlines, this comes from united united is selling 22 planes to an asian leasing sale lease back. what's happening is united is selling its commitment on the future aircraft, then it's going to lease them back from the firm it is scheduled to cut its schedule in may by 90% this is what we're going to see from all the airlines. how can we adjust? how can we bring back our commitments in terms of future aircraft this week we will get some earnings report. we are likely going to hear from delta as well as southwest that's on the docket what everybody is going to be focused on with the airlines earnings is, how great is the loss what's the outlook that's what we're going to be focused on. >> hey, phil, with all of the additional planes that are going to be out there as airlines don't need as many, what's to stop another competitor from picking up and, you know, once things get a little better, going out there and competing against them with lower costs? >> reporter: i'm a little bit confused by your question, becky. are you saying somebody can say if you are not going

there's more evidence too of the impact the pandemic is having on the airline industry playmakers boeing and airbus have both posted 1st quarter losses of more than half a $1000000000.00 the airbus chief says it's the greatest crisis in aerospace history meanwhile british airways says it expects to layoff 12000 over its 42000 staff. the u.k. now has the 2nd worst coronavirus related death toll in europe after the government included nursing home fatalities in its data for the 1st time the number of deaths climbed to more than 26000 on wednesday only italy has a higher figure within europe. and white house health advisor anthony felt she says a trial of the antiviral drug severe has had the positive results on covert 1000 patients she said the average recovery time was cut from 15 days to 11 the national institute of health also said the mortality rate dropped from 11.6 percent to 8 percent for those who got the drug that sent the stream is next but i. after me i can and you are. as we saw are the curtain of eyes pandemic in different countries around the welsh there are certain similarities that we

boeing and airbus are bound to report numbers.e joined by the director and rental -- the director general of iata, alexandre de juniac. let's talk about what is happening right now. there is a desperate scramble in europe to shore up some of these airlines. what can you tell us about the progress that is being made? what are you telling governments about? air france seems to secure a large package. lufthansa may be finding it tougher to get a package out of berlin. what we are saying to governments as we are facing the most unprecedented crisis. the key issue in the short run is we are running out of cash. burn 61 billion u.s. dollars in cash on the second , and the most0 urgent need we have is cash injection coming from governments and packages that could be put together by governments or the community. on that point, the answer from supporteds has been everywhere on the planet, especially in the u.s. now that the announcement has been made, we urge governments to implement what they have now. we need the money to flow in our pnl

and while we can survive a big cut in boeing airbus production, or cut in consumption from airlines many don't have financial wherewithal we are setting up an organization today supply chain organization, to help those small businesses that we rely on get government aid so we've got contracts folks legal folks finance folks to help them work their way through kind of myriad of 870 some page bit of legislation, try to get the money, because without the supply chain, we don't build product don't build product airbus doesn't bull product it all starts with small business getting them cash right now is imperative. >> it is great to have you certainly make the point thanks very much for joining us this morning please come back soon. >> thank you, maria take care. >> thank you, the ceo of raytheon technologies technology giants like microsoft offering resources to help scientists find best solutions, to fight the pandemic, helping offices connect with microsoft spaces artificial intelligence to help people assess covid-19 symptoms even working with biotech firms to map immune system responses

whatever will happen, the world meets both airbus and boeing. k it is in everyone's interest that those companies and the supply chain can continue. if you look at the supply chain, a lot of the supply chain is shared by airbus and boeing. everybody is kind of in the same place, or in the same boat. tighting jobs, it will be , of course, to the extent of the contracting of the industries. of which can be offset by retirements due to age. the industry is in the stage anywhere it has to replace a lot of people in the next five to 10 years, just out of age reasons. vonnie: all right. we have to leave it there. dykema go ahead. guy: carry out -- guy, ahead. guy: carry on. vonnie: thank you very much. we are in peak bank earnings season, with results in the u.s. all significantly boosting loan loss provisions, and keeping with yesterday's themes. we are joined by bloomberg wall street reporter sonali bass a. have we seen the -- sonali basak. have we seen the worst, or is there more to come? sonali: there's definitely more to come. bank of america sayi

how is the situation affecting boeing and airbus? ngest of the twists out there, which complicated the un-grounding of the boeing 737 max, this one could be one of the strangest, the pandemic is actually keeping regulators from being in the same room at the same time. ath airlines flying certainly much reduced schedule, we have the production at boeing curtailed hugely. many of the facilities the playmaker has have been -- the has have been suspended. a former pilot declared he would take the max training course and fly the plane himself before the agency approves it. ,his other roadblock self-imposed isolation after -- shaking hands with a member of congress who tested positive for covid-19 caused by the coronavirus. his isolation should end this week. it shows how simple actions can upend the process. what boeing has at the moment is a target to return the aircraft to service in the middle part of the year, but to do so the manufacturer will have to pull off the ultimate work from home challenge, to get the aircraft circled -- certi

you have boeing and you have airbus. you fly a lot of boeings.fact, your longest flight is from atlanta to johannesburg, 17 hours? ed: that's right. david: and that's a boeing 777? ed: that's right. david: but you chose not to buy the 737 max, for reasons unrelated to what later became a problem. is that an advantage to you now, because you have the airbus 321 and that has given you more capacity than some of your competitors, and you take credit for that decision or was that luck? what happened? ed: i put that solely in the rather be lucky than smart category. we are big fans of boeing, and we're hoping to see the max fly quickly into the skies, but safety was never a part of the consideration set in making that decision. david: while you are in bankruptcy, u.s. air said, we want to take you over. was that considered a friendly offer at the time? ed: everybody assumed that was going to be a foregone conclusion. the people of the company stood and they said, that is not going to happen. ♪ ♪ david: you grew up in poughkeepsie? ed: poughkeepsie, ne

an opening for them to catch up >> thanks so much for that s&p up 0.3% with five minutes left boeing and airbusalting production of commercial aircraft in the u.s. >> it brings up the question what happens when they restart production and what are the product schedules going to look like say six months or a year down the road you look at shares of boeing and airbus, not a whole lot of movement relative to the news today. they've both off about 60% since the middle of february and there are no final assembly plans for the commercial airplane makers operating in the u.s. airbus, they have essentially since 2009 almost doubled their a-320 production that's one of the planes they build in mobile, alabama what will happen say six months or a year down the road? and one other note regarding the airline industry, united out with a reduced schedule for its two hubs in san francisco and los angeles, cutting them back by 35% we'll see this with all the airlines and hubs as the d.o.t. has said it's okay to go to a bare minimum schedule. >> the french and german government stepping up to help airbus in a m

in the first quarter tha about a third of what they did in if first quarter of last year and boeing and airbusy have completely shut down commercial airplane production here in the united states so there's no commercial planes being built obviously because of everything going on with covid-19 one last note for you, tyler you were talking and i know you'll be talking more about the state of the airlines and how miserable it is, the international air transport association out with an estimate that losses worldwide will now top more than $300 billion f it was at about 250 billion, i don't know, two months ago, a month ago. something like that. it just continues to mount >> yeah. emblematic of them and the rest of the economy thanks we appreciate it the e trtf that tracks the airle stocks is down more than 56% this year. those companies are under immense pressure and reuters is now reporting that some airlines are getting close to accepting the coronavirus payroll and more on its aid plan let's bring in brandon welcome and leets start i guess with the quote unquote strings attached does this money

you look at these plane makers you really have not much competition i mean there's boeing and then there's the airbus right so so boeing somehow needs to exist right in this type of of the center somebody who comes in that's going to start making planes isn't going to be competition to boeing has been around for exactly right now you have air bus that's halted too so it's kind of like everybody's at a standstill and maybe the only possible way they can get ahead of this is by ramping up business again and going back to work but here's the problem there ok they're good they're going back to work and yes they're taking service certain safety precautions but will that be enough and planes are grounded well that's one of the things that they were talking about is actually these assembly plants they are built to be you know very you know pristine where it's supposed to be you know that your son was supposed to be easy and they said that by adding in all these different precautions it might actually slow production a little bit because you're going to have all these other elements in there that are going t

the partnership would have given boeing jets to compete against airbus. apse will we can boeing when it is already dealing with the slow down and continued rounding of the 737 max. airbus isn't without problems, too. is leaking money and urging cost cuts -- it's warning it's leaking money and surging cost cuts -- urging cost cuts. it may not reflect the worst case an area. airbus says it's rude -- it's juggling earnings times. virgin atlantic is said to be considering a range of rescue plans, including government loans. request forson's more than 500 million pounds of funding has met with some government resistance. it was partner delta airlines said it won't offer any money, and virgin atlantic is now facing insolvency. emirates is dipping into cash reserves to refund customers as the coronavirus slashes travel demands. they have half a million request pending and have government supports as it aims to clear the backlog by august. airlines resisted refunds as it pushes customers to ticket vouchers. they say they will burn through $63 billion in the growin

park i know a lot airlines around the world are currently right now in discussion with both airbus and boeing. looking at not only not only calculations but certainly may need to ferals their deliveries because they simply don't want these aircraft right now we all know now that recovery will come it's not going to be a sharp the shaped recovery is going to be alone you shaped recovery and it's going to be a long time before the air transport network is good to be back where it was before the crisis we're talking about the iraq to 2 years so that's our number one time for iraqis to hold out for the plane makers to hold out they certainly need all the help they can gain from government from the our investors and these governments and there's are also haitian economic problems of haitian recession shortages of casual roman soldier going to be a long time before glee the industry has any chance of returning to work isn't going to be normal but some sort of normal and with fewer planes flying comes a dip in demand for oil saudi arabia's oil revenues are such have taken a 24 percent hit since the

to park i know the airlines around the world are currently right now in discussion with both airbus and boeing. looking at not only not only cancellations but certainly many to fear all of their deliveries because they simply don't want to hear graphite now we all know now that there's a recovery when it comes it's not going to be a sharp v. shaped recovery is going to be a long u. shaped recovery and it's going to be a long time before the air transport network is good to be back where it was before the crisis that we're talking about the iraq to 2 years so that's not a long time career wise to hold out for the plane makers to hold out there certainly need all the help they can from governments from their investors and these governments and there's are also facing economic problems are facing recession shortages of casual around sochi going to be a long time before the industry has any chance of returning to what is going to be normal but some sort of normal saudi arabia's oil revenues meanwhile are fallen 24 percent since the start of the year the world's largest oil export has suffered a de

. >> let's talk about airbus we've known that airbus and boeing would likely be cutting their production schedules and now we have an announcement from airbus that it's roughly cutting its production schedule by a third. think about this in terms of production and deliveries last year somewhere in the 800 to 850 range in terms of commercial airplanes. you take about a third off to give you perspective what this really means, take a look at the a-320, the bead and butter plane, a single-aisle aircraft, extremely popular around the world they were scheduled to build up to 63 of these per month in 2020 they're going to be bringing that down to 40 per month. they're a-330 production, bringing that down to two per month, a-350 down to six per month. airbus doing what many people expected and there you can see the a-230 production before covid-19, they were going to be at 63 per month. they're knocking this all the way back down to 2013 levels at 40 per month scott, we've heard from airbus now the question is, when do we hear something similar from boeing, though the situation at boeing is a l

to park i know the airlines around the world are currently right now in discussion with both airbus and boeing. looking at not only not only cancellations but certainly many of the ferals of their deliveries because they simply don't want a fair graph right now as we all know now that there's a recovery when it comes is not going to be a sharp v. shaped recovery is going to be a long u. shaped recovery and it's going to be a long time before the air transport network is good to be back where it was before the crisis we're talking about a year up to 2 years so that's not a long time career wise to hold out for the plane makers to hold out there certainly need all the help they can get from governments from their investors and these governments and there's are also facing economic problems are facing recession shortages of casual around sochi going to be a long time before the industry has any chance of returning to what is going to be normal but some sort of normal the un's outgoing human rights envoy for myanmar says of the country's leader aung san suu chain has failed to live up to her reput

boeing even on the upside, despite the fact that the airbus ceo is warning workers it is , but stepping not good news for brazil, but probably good news for boeing. all of that wrapped into the market. in the bond market, it is fairly quiet. looking at a little bit of selling on the backend in the u.s. yields up by about two basis points. solid buying happening in europe and the peripheral italian bond yields, down 10 basis points much more coming up. we will take a quick break, and delve more into the market action. this is bloomberg. ♪ >> you have to be extremely careful in this market. i think there will be some good opportunities, but i can't talk about it short-term. short-term, i think you might have some big downdrafts. alix: that was activist investor carl icahn talking to us on friday about his investments in the current market environment. here with her take is kathryn rooney vera, bulltick head of research and strategy. you tend to be more constructive and take on more risk in markets where people don't like it. what are you doing now? kathryn: now i tend to agree with mr. ic

all the aerospace suppliers, they're moving higher on this news people are saying when will boeing and airbusinally get production moving again? >> phil, i'll ask you to reflect on a couple things in the auto business three things really. one, this ford news, the q1 profit guide for looking at a $2 billion loss tesla up nine days in a row and eurozone auto registrations down 52 in march. what do we make of this conflicting range of stories first with ford, and it ties in to what we're seeing out of europe ford sales under pressure over there. not a surprise on ford they did a preannouncement a week ago, i believe it was, at the time they pretty much said the first quarter will be a mess the $2 billion loss, i don't think that's coming as a surprise to anyone europe, that's what we expected in terms of registrations, going to be down between 50% and 60% in terms of tesla, look, there's optimism that tesla, because of its plant in china, carl, will be able to come out of this coronavirus downturn, if you will, in terms of global auto demand and be in pretty decent shape in china if you buy into

of boeing dave calhoun says traffic passenger traffic in commercial airplanes is down 105 percent and that has just walloped the company airbus is down to half a $1000000000.00 in losses the c.e.o. of that company says this is the grave is crisis the aerospace industry has ever seen and it hasn't just hit them southwest airlines posted its 1st loss since 2011 analysts are saying this could hit the aerospace and airline industry for 5 years to come it could take them that long to recover and here in the united states boeing is the largest manufacturing export are so it said that when boeing sneezes america catches a cold and now found sins of highly skilled highly paid workers are going to be joining workers from the service industry waiters and others who were in that 1st wave of coronavirus layoffs this is going to be devastating not just to boeing not just to the aerospace and airlines industry but to the u.s. and global economies. europe's economic powerhouses expects the plunge into its deepest recession and 50 is your numbers released by the governments have the country's g.d.p. shrinking by more than 6 percent this year

work from the commercial aerospace side to the defense side of the business we'll see, when boeing and airbus settle out in terms of what that demand looks like, we'll have to make some adjustments. we'll try to do it as judiciously as possible with the thought that this might be a two-year problem we will get through it, there is another side to it aerospace does come back we want to be in positioned to succeed in those markets when it does happen. >> you know, on that note, greg, in preparing for having you on, i look back at your january 28th earnings conference call and like a lot of people, you did not seem to be prepared for what was coming. you were talking about it in terms of potentially the sars in 2003, the impact that had on air travel talking about the flu and things of that nature were you properly prepared for what we're experiencing now? you just said potentially two years. have we ever really seen anything like that >> this is a war i don't think many of us saw it coming i clearly did not see it coming. that's my bad. at the same time the company lived through this, the senio