The airline industry could shrink by half to survive, United Airlines chairman says
CNNNew York CNN Business — The US airline industry needs to shrink its labor costs by as much as 50% to survive – and even then it’s possible some carriers don’t make it through the crisis, United Airlines Executive Chairman Oscar Munoz told CNN Business. I suspect you may see more the longer this thing goes on.” Oscar Munoz, executive chairman of United Airlines Times are so tough for airlines that they’re taking dramatic steps to lure customers. “Hopefully things recover and we can bring everyone back,” Munoz said, adding that this crisis is far worse than the downturn in the airline industry after 9/11. Munoz said business travel — a major moneymaker for the airline industry — likely won’t recover until there is widespread access to a coronavirus vaccine.
History of this topic
Jobs are being wiped out at airlines, and there’s worse to come
Hindustan Times
American Airlines warns 25,000 workers they could lose jobs
Associated Press
United Airlines to close cabin crew bases in Hong Kong
India TV News
Boeing boss predicts Covid will cause collapse of big US airline
The Telegraph
Airline nosedive: American, United post huge pandemic losses
Associated PressOnce the coronavirus pandemic is over, we will return to a very different airline industry
ABC
Airline stocks crushed after Trump bans Europe travel over coronavirus
CNNDiscover Related
