FILE PHOTO: A United Airlines plane is seen in the background as a passenger sits in Terminal C of the IAH George Bush Intercontinental Airport amid the coronavirus disease outbreak in Houston, Texas, U.S., July 21, 2020. REUTERS/Adrees Latif
U.S. airlines are collectively burning about $5 billion of cash a month as passenger traffic has stalled at around 30% of 2019 levels. After tapping capital markets, they say they have enough liquidity to last them at least 12 months at that rate. “Airlines quite correctly have been bulking up on cash ... but to be 25% smaller, best case, how are you going to handle the debt service?” asked airline consultant Mike Boyd.
Daily passengers at U.S. airports have swung from record highs in 2019 to dramatic lows in 2020, according to Transportation Security Administration data.
You already got your 'poor little airlines' rich boy bailout. No more for you.
Yeah. Regular people that don’t earn their money through the stock market are facing a pretty bleak fall and winter also.
I don’t care. After years of excessive baggage fees and “overbooked” flights, fuck the airlines.
Without more federal stimulus infusion into the economy, we all face a 'grim winter.'
American Airlines CEO gets $12million a year, not including stock and other benefits. Why should our tax dollars pay for bailing him out, take a cut Doug Parker!
no bailouts.
I wonder if it has anything to do with a certain virus. 🧐
Supply and demand. It is what it is. Adapt.
You can blame the GOP.
Very much so, unfortunately
End the mask mandates and let them be free!
WinterIsComing
Stop throwing government money down an ever increasing hole. It's like trying to prop up the buggy whip manufacturing sector. Let them fail. I guarantee it will renew itself on it's own.
Not grimier than what we face in their narrow aisles!
Sometimes unplugging Frankenstein has healthy consequences
Yeah, placebo face masks will cut your travelers down to almost zero. *Cough *Cough Covid? Nah. Just the common cold dude......Chill.😏
If they send me an affordable business class ticket I'll fly over and over and over
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