US airline stocks plunge on Trump move to end stimulus talks

WASHINGTON - Shares of major airlines fell on Tuesday after US President Donald Trump said his administration would abandon talks with congressional Democrats over proposals to spend at least US$1.6 trillion in additional coronavirus relief funds.

American Airlines and United Airlines last week began laying off 32,000 workers, but had said they would reverse course if lawmakers reach a deal. Association of Flight Attendants-CWA International President Sara Nelson said"Trump issued one tweet to blow up the deal and leave millions of essential workers in freefall. Senate Republicans will own this cruel maneuver that puts our economy in a tailspin unless they demand COVID relief now."US airlines are collectively burning about US$5 billion of cash a month as passenger traffic has stalled at around 30 per cent of 2019 levels.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US economic recovery gets harder as Trump end stimulus talks; stocks tumbleWASHINGTON (BLOOMBERG) - The collapse of pre-election US stimulus talks threatens to inflict another wave of economic pain on Americans and curtail a recovery that's already slowed.. Read more at straitstimes.com. Why don’t you report that Pelosi has a ridiculous proposal that’s not aimed at relieving Covid effects?
Source: The Straits Times - 🏆 8. / 63 Read more »

US: Stocks close higher despite Trump virus uncertainty[NEW YORK] Wall Street stocks marched higher on Monday to end with solid gains as investors appeared unphased by US President Donald Trump's battle with Covid-19. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »