United Airlines poised to slash payroll costs without quick bailout

United Airlines says it could be forced to cut payroll costs by as much as 60% if an airline industry bailout isn't approved by Congress by the end of the month.And Delta Air Lines now expects revenue to plunge 80% in the three months period that begins in April, according to a company filing.

"It's also clear, given the underlying damage the virus has created to the overall economy, that demand recovery will take an extended period once the virus is contained," he said.Delta arranged for $2.6 billion in new borrowing and drew down an additional $3 billion in cash on an existing credit line, Bastian revealed. And he said about 13,000 of Delta's more than 90,000 employees have agreed to take voluntary unpaid leaves.

Yep, or the Green New Deal. What’s going on with shutdowns is exactly what the Green New Deal calls for. Stop airline travel, reduce oil consumption (people don’t drive), shit down offices and businesses.... so if you a Green New Deal supported, enjoy the test.

Ridiculous! Last time the airlines got a bail out they double dipped by nickel and diming passengers..... you want another one? What’s left to pay for? Pay to pee?

thompatterson No mention of how airlines have used their cash reserves to buy back stock at the new low price? Why am i not surprised about the omission ...

United lined their pockets last time and, like Trump, will do it again this time. Impose conditions now on the bailouts Trump gives to companies

How much will the executives be losing in the paycut? EatTheRich

You will have a new partner. Don jr

Not too big to fail.

UnitedAirlines - you got your massive Tax break in 2017. You used it to buy back stock and to pay your CEO too much money. So now look in all your safes for cash to get through this rough spot. We are tired of bailing you out

Tough shit.

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Corporate bailouts should be quick, big and wideFrom large airlines to small restaurants, companies are pleading for state support to cope with plunging revenue. Governments can help by swiftly offering a cheap loan to any business that wants it. It’s the best way to prevent a severe downturn from becoming a prolonged slump. ReutersBiz peter_tl Corporate bailouts should include equity. ReutersBiz peter_tl corporate bailouts shouldn’t happen. risk and reward of business. maybe if these companies didn’t pay their ceo’s 100 million dollars a year or spend billions in stock buybacks to further enrich those same Ceo’s they would have some ‘pandemic money’ saved up. ReutersBiz peter_tl And buying tech stocks with that money should be prohibited 🚫
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