Jobs at air carriers are in jeopardy due to the pandemic
The employment situation doesn't show signs of improvement,
as we can see from what two of the largest US airlines are about to do.
American Airlines and United Airlines revealed that they
would furlough 32,000 people. The announcement came just before the deadline
imposed by the stimulus package that they have received earlier this year to
survive the pandemic. The CEO of American Airlines and the president of the
group Airlines for America stated that the furloughs could be avoided if the
House and the Senate are close to agreeing on a $25 billion stimulus package.
The aviation industry was particularly hit hard by the
pandemic. US air travel decreased by 70% compared to the same time last year.
The latest rise in demand reported during the summer faded after the number of
infections increased in various states.
Regarding the stimulus package, the Democrats and
Republicans are trying to reach a consensus. The long-touted $2.2 trillion
stimulus package could be, in fact of $1.5 trillion.
The market ignored the news, and American Airlines' stock
price ended 0.33% higher.
Sources: marketwatch.com
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