US: Airline CEs promise no furloughs if aid flows quickly
US airline CEs have told Congress that govt aid must flow quickly to avoid mass layoffs and furloughs as a result of the coronavirus pandemic, while promising to limit executive pay and stop share buyback programs. A March 21 letter signed by CEs of A4A and 10 large passenger and cargo carriers appeals for at least US$58b in order to protect an industry that supports 750,000 jobs. The letter again requests that the $58b include $29b in grants and $29b in loans or loan guarantees. If granted, the airlines promise not to furlough workers or cut employees through Aug 31, 2020. The letter echoes a proposal put forward by A4A earlier this week. Saturday’s letter, however, mentions a reduction in employee numbers and furloughs for the first time. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-23/general/us-airline-ces-promise-no-furloughs-if-aid-flows-quickly
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US: Airline CEs promise no furloughs if aid flows quickly
US airline CEs have told Congress that govt aid must flow quickly to avoid mass layoffs and furloughs as a result of the coronavirus pandemic, while promising to limit executive pay and stop share buyback programs. A March 21 letter signed by CEs of A4A and 10 large passenger and cargo carriers appeals for at least US$58b in order to protect an industry that supports 750,000 jobs. The letter again requests that the $58b include $29b in grants and $29b in loans or loan guarantees. If granted, the airlines promise not to furlough workers or cut employees through Aug 31, 2020. The letter echoes a proposal put forward by A4A earlier this week. Saturday’s letter, however, mentions a reduction in employee numbers and furloughs for the first time. <br/>
