Reporting from Law360 shows that bankruptcy filings in fiscal year 2020 are down by approximately 21% as compared to fiscal year 2019. The reporting attributes this drop primarily to non-business filings, which have dropped by approximately 21.7% since 2019. [Law360; Oct. 30, 2020]
The Financial Post reports that Boeing has issued $4.9 billion in unsecured notes in an effort to, among other things, repay approximately $2.8 billion in debt in the form of commercial paper and term bonds, which mature in 2021. In March 2019, regulators grounded Boeing's best-selling plane model after two fatal accidents. [Financial Post; Oct. 29, 2020]
Reporting for the Wall Street Journal based on data from credit rating agency Moody's shows that there could be a nationwide state budget deficit of $434 billion between 2020 and 2022. This estimate assumes no additional stimulus from the federal government, continued restrictions on business and travel, and other costs related to high levels of unemployment. [WSJ; Oct. 28, 2020]
Reporting from Bloomberg based on the findings of the Airports Council International Europe indicates that 193 out of 740 European airports evaluated will soon struggle to keep current with their bills. Europe has lost 1.29 billion travelers since January 2020, a 73% decline, according to year-over-year comparisons. [Bloomberg; Oct. 27, 2020]
In a post for the Calculated Risk Blog, seven high frequency economic indicators (such as airline travel, restaurant reservations, and hotel occupancy) are compared on a year-over-year basis to show the effects of the COVID-19 pandemic. [Calculated Risk Blog; Oct. 19, 2020]
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