Trump urges $25 billion bailout for U.S. airlines Description video: U.S. President Donald Trump said late on Tuesday Congress should quickly extend $25 billion in new payroll assistance to U.S. passenger airlines furloughing thousands of workers as air travel remains […]
Trump urges $25 billion bailout for U.S. airlines
U.S. President Donald Trump said late on Tuesday Congress should quickly extend $25 billion in new payroll assistance to U.S. passenger airlines furloughing thousands of workers as air travel remains down sharply amid the coronavirus pandemic.\n \nSubscribe: http://smarturl.it/reuterssubscribe\n\nReuters brings you the latest business, finance and breaking news video from around the globe. Our reputation for accuracy and impartiality is unparalleled.\n\nGet the latest news on: http://reuters.com/\nFollow Reuters on Facebook: https://www.facebook.com/Reuters\nFollow Reuters on Twitter: https://twitter.com/Reuters\nFollow Reuters on Instagram: https://www.instagram.com/reuters/?hl=en
US airlines ask Trump for another $ 25 billion
Airline executives and unions are again pushing billions in additional federal aid as the industry’s job cut expires in two weeks and a rebound in travel demand is not saving the day.
Several airline executives are planning to meet with the White House chief of staff, sources said. By Mark Meadows, to discuss this issue.
From October 1, American airlines may fire or send about 30 thousand employees on indefinite leave. Terms of a relief package approved by Congress in March to combat the fallout from the pandemic banned job cuts until September 30.
Airlines are pushing for an additional $ 25 billion to protect the sector from massive cuts until next March. This proposal received bipartisan support in Congress and approval Donald Trump. Legislators and the White House have yet to reach agreement on a new stimulus package that could include another round of aid. However, government officials report that discussions on the issue have advanced significantly over the past few days..
CEO of United Airlines Scott Kirby also said that the industry is in dire need of additional support. Kirby noted that he is very much counting on the White House.
Earlier this month, the airline said it could cut around 16 thousand workers seats in the fall as soon as the stimulus package ends. At the same time, United Airlines reached a preliminary agreement with the pilots union that will help avoid almost three thousand indefinite leave.
The union said it approves an agreement that should prevent layoffs at least until June 2021, and includes reduced working hours due to the need to reduce costs. Approximately 13,000 Air Pilots Association members are expected to support this initiative next week..