United Airlines warns it needs to axe 2,850 pilot jobs
United Airlines Holdings Inc (NASDAQ:UAL) has warned it needs to cut 2,850 pilot jobs as the clock runs down on US government aid to airlines.
Government supports provided as the coronavirus (COVID-19) pandemic came with protections against job losses, with clauses preventing cuts until October 1.
Now, as talks to extend further assistance to the industry stall, United revealed it will axe more pilots than rivals Delta Air Lines Inc (NYSE:DAL) and American Airlines Group Inc (NASDAQ:AAL) which earlier this week estimated 1,900 and 1,600 cuts respectively.
United, which is more exposed to international routes than its rivals, said estimate of 2,850 cuts is based on current travel demand for the remainder of 2020 but its view would remain ‘fluid’ in regard to the resurgence of COVID-19.
Group-wide United cautions that up to 36,000 jobs are at risk though more precise estimates were not disclosed in work groups other than pilots.
American Airlines earlier this week said it would be cutting 19,000 jobs, which is about 30% of its workforce.
In New York’s out-of-hours deals, United Airlines stock was priced up 1.91% at US$36.91.
AAL stock, meanwhile, was indicated 2% higher at US$13.54 and Delta was priced up 1.7% at US$31.35.
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/927797/united-airlines-warns-it-needs-to-axe-2850-pilot-jobs-927797.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).