Airlines face wave of layoffs amid coronavirus-aid impasse - Fox Business

Thousands of airline workers are bracing for layoffs at the end of the month unless Congress overcomes a monthlong stalemate and passes another emergency coronavirus aid package.

Continue Reading Below

Under the terms of a $25 billion bailout fund that was created earlier this year as part of the CARES Act, airlines are prohibited from cutting jobs or reducing workers’ pay through Sept. 30. But absent another stimulus deal, major airlines have warned they will be forced to furlough thousands of pilots, flight attendants, gate agents and other employees.

CORONAVIRUS PROMPTS AIRLINES TO HAVE FACE MASK-RELATED ‘NO FLY’ LISTS

United Airlines plans to furlough up to 16,370 employees in October (though it reached a tentative agreement with the pilots union to avoid nearly 3,000 of those); American Airlines could lay off and furlough as many as 19,000 workers; and Delta is preparing to furlough nearly 2,000 pilots.

The industry has warned that as many as 75,000 jobs could be at risk.

Airlines are required to inform employees of mass layoffs 60 to 90 days ahead of time.

Ticker Security Last Change Change %
UAL UNITED AIRLINES HLDG. 36.92 +0.18 +0.49%
AAL AMERICAN AIRLINES GROUP INC. 13.31 +0.06 +0.41%
DAL DELTA AIR LINES INC. 33.75 +0.92 +2.80%
LUV SOUTHWEST AIRLINES CO. 40.39 +0.33 +0.82%

“Thousands of ALPA pilots continue to face layoffs, pay cuts, and significantly reduced flying time as a result of the coronavirus pandemic, and the looming expiration of
Source…