Chief executives of major U.S. airlines were reaching out to key members of Cong...
WASHINGTON/CHICAGO - Chief executives of major U.S. airlines were reaching out to key members of Congress on Saturday in a last-ditch uphill effort to try to win cash grants to weather the coronavirus crisis, warning that the consequences if they did not receive help could be dire, two people briefed on the calls said.
Unions representing workers in different parts of the aviation industry were also making final pleas, with the head of the International Association of Machinists and Aerospace Workers asking Congress in a letter on Saturday to “backstop” the airlines with direct aid for paychecks. Airline officials said privately they face an uphill battle in the face of “anti-bailout” sentiment among some lawmakers.
They promised that if they get $29 billion in cash grants they will not cut their workforce before August 31 and agreed to accept limits on executive compensation and eliminate stock buy-backs and dividends over the life of the loans.“We respectfully urge Congress not to pursue opportunistic measures that will hurt, not help our ability to recover,” they wrote.
“The breadth and immediacy of the need to act cannot be overstated. It is urgent and unprecedented,” they wrote.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Disney — and its new CEO — face a major challenge from the coronavirus pandemicFew major conglomerates are as vulnerable as Disney. The pandemic threatens to damage every sector of Disney's business. 'Every part of Disney is exposed to COVID,' said Matthew Ball, a media analyst and former head of strategy at Amazon Studios.
Baca lebih lajut »
New York Gets A Major Disaster Declaration, Unlocks Access To Federal Relief FundingA Major Disaster Declaration has been issued for New York by the Federal Emergency Management Agency (FEMA). The move will unlock access to aid from its Disaster Relief Fund, a critical move as new…
Baca lebih lajut »
Progress in U.S. coronavirus economic stimulus talks amid major disagreements: SchumerNegotiations on a possible $1 trillion coronavirus economic stimulus bill were m...
Baca lebih lajut »
Data reveals how visits to major US airports have cratered as coronavirus ravages the airline industryNew York&39;s JFK Airport saw a 29.4% decrease in foot traffic from 2019&39;s first week of March to that same week in 2020.
Baca lebih lajut »
U.S. Federal Reserve increasing frequency of swap line operations with other major central banksThe U.S. Federal Reserve said on Friday that it would enhance the U.S. dollar li...
Baca lebih lajut »
The Nordstrom Beauty Sale Includes Major Deals on Dyson, La Mer and Paula’s Choice.Nordstrom's beauty sale is offering major deals on Dyson, LaMer, and PaulasChoice:
Baca lebih lajut »