$75 Billion in Band-Aids Won’t Cure Ailing Airlines
Veronique DeRugy does the math.
(From Reason)
Assuming an average annual salary of $100,000, supporting 35,000 airline employees for six months—the time covered under the new proposed bailout—should cost a total of $1.7 billion. Yet airlines are asking for $25 billion, which works out to $715,000 per job temporarily saved. A more plausible explanation is that—as with the first bailout—airlines are planning on using taxpayers’ money, rather than their own, to cover the salaries of those who are at risk of furlough and the salaries of employees they have no intention of furloughing.
This article was originally posted here: https://www.ac2news.com/2020/12/75-billion-in-band-aids-wont-cure-ailing-airlines-2/.
