The powers that be are convinced there should be no consequences for short-term oriented management of major US companies. That includes airlines.
In a deal announced yesterday, US airlines will receive $25B. Most of that money is a grant. A smaller portion of it is loan to be repaid over the next decade. The big catch for the airlines is that they can’t layoff any staff until September 2020.
More than 500,000 people work for the Airlines. What will they do now?
The TSA keeps track of how many people go through its checkpoints each day at US airports. This number includes everyone who goes through security including airport and airline staff. And, as you would expect, that number has fallen dramatically over the last several weeks.
How soon before you plan to get on an airplane?
How much lower can these numbers go?
In exchange for the cash, US airlines can’t layoff staff until September. What will these 500,000 people do until then?
I’d like to hear your thoughts in the comments below….