United 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
United 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.And Delta Air Lines now expects revenue to plunge 80% in the three months period that begins in April, according to a company filing.
"It's also clear, given the underlying damage the virus has created to the overall economy, that demand recovery will take an extended period once the virus is contained," he said.Delta arranged for $2.6 billion in new borrowing and drew down an additional $3 billion in cash on an existing credit line, Bastian revealed. And he said about 13,000 of Delta's more than 90,000 employees have agreed to take voluntary unpaid leaves.
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