Icelandair Group has appointed three financial advisors to strengthen the company’s long-term capital, after the COVID-19 pandemic forced the airline to cut its flight schedule to just 10% of normal operations.

Howmet Aerospace, formerly the aviation and defense-focused assets under the Arconic brand, said April 6 it will work to save about $100 million in costs as its OEM customers halt production of large commercial aircraft due to COVID-19 fallout.

Lufthansa decided April 7 to make deep cuts to its future fleet, repositioning it to becoming an airline around 20% smaller than before the coronavirus pandemic crisis. 

Alaska Airlines plans to maintain flights to all points it currently serves in Alaska as well as bringing forward the launch of seasonal routes to Dillingham (DLG) and King Salmon (AKN) after the demise of RavnAir Alaska.

The government of Latvia has tentatively approved a €36.1 million ($39 million) treasury loan for Riga-based airBaltic and could make further funds available if the COVID-19 crisis continues.

Israel’s Ministry of Finance has rejected El Al Israeli Airlines’ request for a $350 million state loan to sustain it through the COVID-19 global crisis.

The U.S. Treasury Department’s updated guidance on aviation-specific loans available via the $2 trillion stimulus package indicated that applications will start being accepted soon but leaves several large questions about the $46 billion program unanswered. 

Turkish Airlines has canceled all remaining domestic flights, which means the carrier has no scheduled passenger flights until April 20, according to CEO Bilal Eksi.