Delta

Delta CEO: Stimulus Package Ensures No Layoffs in Airline Industry For Now

Delta CEO: Stimulus Package Ensures No Layoffs in Airline Industry For Now

Delta Air Lines CEO said over the weekend that the $2 trillion government economic stimulus package, which will provide up to $50 billion to the airline industry, will ensure that there are no involuntary furloughs or pay cuts through at least September 30, 2020.
“There will be no involuntary furloughs or reductions in pay rates across our U.S. industry for the next six months, at which time we hope the virus …

Airlines Slash Schedules, Borrow $17 Billion to Stay Afloat

Airlines Slash Schedules, Borrow $17 Billion to Stay Afloat

As the number of people flying continues to plummet and countries close borders, airlines collectively borrowed $17 billion and continued to slash their schedules in order to continue operations, despite the $50 billion in government aid that U.S. airlines will receive from the government out of its $2 trillion economic stimulus package.
On Friday, American Airlines, the world’s largest carrier, said it would cut its capacity in May by 70% to …

U.S. Airlines Prepare for a Turbulent Future

At first glance, it sounds like good news. Congress passed a $2 trillion stimulus bill and promised the airline industry $50 billion in aid.
The $2 trillion economic stimulus act passed by Congress this week will unquestionably prevent a wave of layoffs but it won’t stave off permanent changes in how the industry will operate going forward. The aid will arrive in the form of up to $25 billion in payroll …

Delta Latest Airline to Reduce In-Flight Service to Contain Spread of Coronavirus

Delta Latest Airline to Reduce In-Flight Service to Contain Spread of Coronavirus

Delta Air Lines became the latest airline to announce changes in its in-flight service to reduce the likelihood of spreading the novel coronavirus.
The airline said in a statement that its food and beverages services are being “streamlined” starting immediately in order to “lessen physical touch points on board.”
American Airlines and Southwest Airlines previously announced changes in their respective in-flight service to reduce contact between cabin crew and passengers.
Delta said it …

U.S. Airlines Could Shut Down, Report Says

U.S. Airlines Could Shut Down, Report Says

Airlines in the United States are drafting plans for a possible voluntary or government-ordered shutdown due to the coronavirus pandemic, the Wall Street Journal reported.
One airline in the country, Hawaiian Airlines, has already suspended all international flights and virtually all flights to the mainland, while cutting back substantially on inter-island flights.
U.S. airlines are already cancelling thousands of flights on a daily basis to cope with a dwindling number of passengers, …

Airline CEOs Pledge No Stock Buybacks or Furloughs in Exchange for $29 Billion Coronavirus Bailout

Airline CEOs Pledge No Stock Buybacks or Furloughs in Exchange for $29 Billion Coronavirus Bailout

The heads of ten major U.S. airlines sent a letter to Congress with a promise to stop stock buybacks and paying dividends in exchange for a multi-billion dollar coronavirus bailout.  The industry is asking for “at least” $29 billion, saying it needs that sum in order to avoid massive layoffs.
“”Unless worker payroll protection grants are passed immediately, many of us will be forced to take draconian measures such as furloughs,” …

Delta to Park 600 Planes and Drastically Reduce Flying, Close Most Sky Clubs

Delta to Park 600 Planes and Drastically Reduce Flying, Close Most Sky Clubs

Delta Air Lines said it plans to park at least 600 aircraft, scale back its capacity by over 70%, and reduce executive pay.
In a memorandum to employees, Ed Bastian, the airline’s CEO, said that Delta was deferring all capital expenditures including new airplane deliveries for the time being and that it was trying to “secure” over $4 billion in cash savings in the current quarter.
“Make no mistake – we will …