Most airlines in the world will be bankrupt by May, according to a leading aviation consultant

Peter Harbison, who heads up one of Australia’s peak aviation consulting firms, has a doomsday prediction for the world’s airlines.

Lawyer Cassandra Heilbronn has been on a surreal travel odyssey. Picture: Mark Cranitch.

ARMAGEDDON AWAITS

Qantas and Virgin have already taken drastic steps to curtail flights and do whatever else they can to hunker down for the duration of the coronavirus nightmare.

But Peter Harbison, who heads up one of Australia’s peak aviation consulting firms, warned yesterday that the global industry is facing an Armageddon scenario.

“By the end of May 2020, most airlines in the world will be bankrupt,’’ his Centre for Asia Pacific Aviation predicted.

Peter Harbison

“Coordinated government and industry action is needed now if catastrophe is to be avoided.

“Many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants. Cash reserves are running down quickly as fleets are grounded and what flights there are operate much less than half full.’’

FEELING THE SQUEEZE

Australia’s biggest KFC operator has felt the squeeze from half a world away.

Brisbane-based Collins Foods Group revealed yesterday that it would take a financial hit from the decision by the Dutch Government to close all restaurants immediately and keep them shut until April 6 to slow the spread of coronavirus.

It’s still not clear whether they’ll be able to churn out the chooks via delivery or drive through.

Regardless, the announcement sent shares in the company spiralling down 23 per cent to close at $4.57.

Collins, headed by boss Graham Maxwell (illustrated), operates 37 outlets across Holland and Germany, where revenue shot up 35 per cent last year to nearly $124 million.

SURREAL ODYSSEY

Still in Europe and we hear globetrotting Queensland lawyer Cassandra Heilbronn has been caught up in a surreal travel odyssey.

After a quick jaunt to Malta, she ran in to a series of roadblocks trying to return to Saudi Arabia, where she works as a government adviser on sports policies.

Cassandra Heilbronn

A bunch of countries, including France, Germany and Turkey, wouldn’t allow through flights.

So Heilbronn made it back to London, only to learn her flight to the Saudi capital of Riyadh had been cancelled. Now on a plane back Down Under that lands Tuesday morning, she’ll leave the airport and then immediately face the ordeal of 14 days of self-quarantine. Oy!

HOMEWARD BOUND

Back in Brisbane, Bevan Slattery’s tech outfit Megaport has became just the latest company to order all staff to work from home following a successful trial run last week.

“Megaport was ‘born in the cloud’ and many of our staff in the US, Europe and Asia have always worked from home,’’ he said yesterday.

Slattery said the firm was in “great shape’’ to ride out the storm, with more than $100 million in cash and no debt beyond about $6 million in vendor financing.

RURAL RALLY

In a rare glimmer of good news, confidence in Queensland’s rural sector has rallied spectacularly following desperately-needed rains.

A quarterly survey from Rabobank released yesterday found that, after seven years of relentless drought, the state had recorded “the most dramatic turnaround in sentiment in the survey’s history’’ since 2001.

Rural confidence was high in some parts of the state after recent wet weather.

“A total of 57 per cent of Queensland producers now have a positive outlook on the coming year, up from just 19 per cent with that view in late 2019,’’ the report said.

KEEPING PERSPECTIVE

Perspective is always your friend and never more so than during a time of crisis.

“Your grandparents were called to war. You’re being told to sit on your couch. You can do this,’’ said one memorable posting we spotted on Facebook.