American Airlines Warns Admin: Keep Bailing Us Out Or At Least 19,000 More Jobs Are Gone
There is a saying that goes – “One doesn’t go into the airline business to make money.” Which may now be revised to: One doesn’t go into the airline business to make money, unless that money comes from the government.
(From Zerohedge)
With air traffic still completely refusing to believe in the recovery and re-normalization that stocks appear to be convinced is just around the corner, America’s airlines are becoming more and more dependent on liquidity for survival and rather than face the market consequences of years of re-leveraging, they appear to be upping the rhetoric to pressure Washington into more bailouts.
Today’s example comes from American Airlines which will confirmed today that it will cut 19,000 workers if federal payroll aid expires as scheduled on Oct. 1, capping a 30% workforce reduction since the coronavirus pandemic began to torpedo travel demand.
This article was originally posted here: https://www.ac2news.com/2020/08/american-airlines-warns-admin-keep-bailing-us-out-or-at-least-19000-more-jobs-are-gone/.
