News

The history of Silver Airways, Florida’s regional carrier which says it’s in ‘dire need’ of a bailout to survive the coronavirus crisis

Florida regional carrier Silver Airways is at risk of disappearing as the novel coronavirus crisis has greatly impacted operations. In a letter to federal officials, the airline’s CEO stated that Silver is “in dire need” of government assistance to remain flying and may be the first independent regional carrier to […]
The history of Silver Airways, Florida’s regional carrier which says it’s in ‘dire need’ of a bailout to survive the coronavirus crisis
News

Delta is parking half of its fleet, slashing executive pay, and sending 10,000 employees on unpaid leave as coronavirus brings the airline industry to its knees

Delta Air Lines announced Wednesday several drastic measures to cut costs as the novel coronavirus ravages airlines worldwide. Roughly 10,000 employees are taking voluntary unpaid leave, CEO Ed Bastian said, while he and the company’s board have cut their own salaries to zero for the next six months. The company […]
Delta is parking half of its fleet, slashing executive pay, and sending 10,000 employees on unpaid leave as coronavirus brings the airline industry to its knees
Markets

Elizabeth Warren just laid out 8 conditions that companies should accept for government bailout money during the coronavirus crisis

Warren unveiled eight conditions on Monday for companies that accept emergency federal funding during the coronavirus crisis. Democrats are attacking the proposed $US50 billion in federal assistance for airlines as a bailout, given the industry has directed massive profits toward stock buybacks. “Let me be clear: We’re not doing no-strings-attached […]
Elizabeth Warren just laid out 8 conditions that companies should accept for government bailout money during the coronavirus crisis
Markets

Airlines are begging for a bailout, but they have used 96% of their cash on buybacks over the past 10 years. Their plight highlights an ongoing controversy over how companies have been spending their money.

The Trump administration has proposed $US50 billion of emergency aid for airlines ravaged by widespread cancellations amid the coronavirus pandemic. But critics are deriding it as a bailout to an industry that made bad financial decisions. Resistance to the plan emerged among Democrats and even some Republicans. They’re concerned that […]
Airlines are begging for a bailout, but they have used 96% of their cash on buybacks over the past 10 years. Their plight highlights an ongoing controversy over how companies have been spending their money.