Nonetheless, he said the board had decided to suspend dividend payments and share buybacks to conserve cash. Delta is burning $50 million a day, Bastian said, despite a wide range of cost cuts already undertaken amid a precipitous decline in travel due to the coronavirus pandemic. The company now expects revenue in the second quarter to fall 80%, or $10 billion, compared to the same quarter last year.according to BloombergDelta also disclosed it had arranged a $2.
U.S. passenger and cargo airlines have asked the federal government for big money: $58 billion equally split between grants and loans, as well as relief from excise taxes through 2021. An economic stimulus bill drafted by Senate Republicans would give the airlines $58 billion, but just in loans and loan guarantees. The loans would come with restrictions on executive compensation.the industry groupTravel demand has plummeted sharply over the past few weeks as the pandemic has spread worldwide and travel bans have limited the number of destinations airlines can fly to. Some U.S. carriers have seen cancellations exceed new bookings by a ratio of two to one.
Airlines around the world have slashed their schedules. In the U.S., American Airlines has dropped all but three international routes and plans to cut its domestic schedule by by 20% in April and 30% in May. Delta is reducing capacity by 70% and parking roughly half its aircraft.
Fire every fkn executive ... take every fkn cent in compensation theyve had for the last ten yrs.
Death to the buybacks!!!
Stock/share buybacks should never have been allowed.
Lay offs are inevitable! It would be ludicrous of any airline to keep 100% workforce for 30% workload.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
United Airlines slashes international schedule by 95% for AprilUnited Airlines Holdings Inc said on Friday it would slash its international sch... 😢 They spend billions for buyback Awww
Source: Reuters - 🏆 2. / 97 Read more »
United Airlines poised to slash payroll costs without quick bailoutUnited Airlines says it could be forced to cut payroll costs by as much as 60% if an airline industry bailout isn't approved by Congress by the end of the month, citing the drop in travel demand because of the coronavirus outbreak Tough shit. UnitedAirlines - you got your massive Tax break in 2017. You used it to buy back stock and to pay your CEO too much money. So now look in all your safes for cash to get through this rough spot. We are tired of bailing you out Not too big to fail.
Source: CNN - 🏆 4. / 95 Read more »
United Airlines Threatens To Cut Jobs If Coronavirus Aid Package Isn't PassedTSA reported screening the fewest number of airline passengers ever on Thursday. Only about 624,000 people passed through airport security checkpoints, compared to 2.4 million people on the same day last year. No bailouts. They have had record profits and charged for bags. Let them fail. Oh boo hoo We don’t need to be traveling right now!! StayHomeSaveLives stop worrying about economy and how to help our healthcare frontline folks! WE have no PPE CLOSEDOWN GavinNewsomCNN ABC7 abc7kristensze HealthySCC ChrisCuomo AC360 SutterHealth
Source: NPR - 🏆 96. / 63 Read more »
United Airlines warns of massive layoffs without federal aidUnited Airlines is hinting that major layoffs could be coming if Washington doesn’t pass an airline bailout by the end of this month Cool Nationalize united NoBailouts
Source: ABC - 🏆 471. / 51 Read more »
Coronavirus disruption risks damaging the 2020 United States censusCounting everybody in remote, rural areas was never going to be easy. Now it looks like it may be near impossible FFS, this is important, they need to postpone it. Like the virus, this will disproportionately hurt Trump supporters. Well, everyone will be home if we have census takers out to knock on doors for addresses that havent filled out their form....
Source: TheEconomist - 🏆 6. / 92 Read more »
United warns of possible job cuts if government doesn't act quickly on coronavirus aidUnited Airlines is warning about possible job cuts if the government doesn't quickly provide aid to combat coronavirus. Fed$ is busy pumping up the stick market with fake money You should’ve budgeted better United. United should have saved for an emergency and spent less money on avocado toast
Source: CNBC - 🏆 12. / 72 Read more »