The chain is seeing occupancy rates in North America at under 25%, down from about 70% last year
Asia-Pacific is expected to be most heavily impacted with up to 49 million jobs at risk throughout the region.
MakeMyTrip will immediately cancel all discretionary spending and suspend brand building expenses during the following quarter.
Some 2.7 million airline jobs are at risk. And each of those jobs supports a further 24 in the travel and tourism value chain.
Staying in front with the clients and prospects is the key to the rebuilding process.
This could lead to a corresponding reduction in 12%-14% of the jobs.
The proposed A$250 million deal was to be split into a placement and entitlement offer.
The brand CEOs and Glenn Fogel decide to forego salaries during this time of the crisis.
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