(Bloomberg) -- Chesapeake Energy Corp. discarded its full-year outlook, wrote down the value of $8.5 billion in assets and revived concerns one of the biggest U.S. natural gas suppliers is on the verge of financial collapse.The Oklahoma City driller hired strategic advisers and may seek Chapter 11 bankruptcy protection as Covid-19 lockdowns slashed energy demand and triggered a record quarterly loss, the company said Monday in a federal filing.Once a contender for the title of biggest American gas producer, the shale driller co-founded by the late Aubrey McClendon has been struggling for most of the past decade under a staggering debt load and the North American supply glut Chesapeake helped create.Chief Executive Officer Doug Lawler’s attempted pivot into crude production never gained traction. The company faces more than a half-billion dollars in debt maturities by the end of next year, and has been shut out of financial markets. The $8.3 billion...
Economies around the world are on life support, but Marriott executives see initial signs the worst from coronavirus may be in the rearview mirror. A quarter of Marriott’s hotels around the world are temporarily closed due to depleted occupancy and limited revenue per room in the coronavirus era not justifying continued operations. The hotel giant’s […]...
May.11 -- Southwest Airlines Chief Executive Officer Gary Kelly discusses the impact of the coronavirus pandemic on passenger bookings and flight schedules, plans to offer early-retirement to employees, and cost-cutting efforts. He speaks with Bloomberg's Guy Johnson and Vonnie Quinn on "Bloomberg Markets."...
