Latest Ed Bastian News
Airlines increase job cuts as pandemic crushes air travel
Major airlines on both sides of the Atlantic are cutting even more jobs as they struggle to cope with a plunge in air travel that will leave the airline industry much smaller than it was before the coronavirus pandemic and economic collapse. EasyJet said Thursday that it will cut up to one-third of its 15,000...
Latam Airlines seeks bankruptcy protection as travel slumps
BANGKOK (AP) — Latam Airlines, South America’s biggest carrier, sought U.S. bankruptcy protection Tuesday as it grapples with a sharp downturn in air travel sparked by the coronavirus pandemic. The Chapter 11 bankruptcy filing underscores the severity of the financial challenges facing the travel...
White House shifts from raising alarms to reopening country
WASHINGTON (AP) — For weeks, the Trump administration played up the dangers of the coronavirus as it sought to persuade Americans to disrupt their lives and stay home. Now, as President Donald Trump aims for a swift nationwide reopening, he faces a new challenge: convincing people it's safe to come out and...
Moving past 'invisible enemy,' Trump nudges nation to reopen
WASHINGTON (AP) — For weeks, the Trump administration played up the dangers of the coronavirus as it sought to convince Americans to disrupt their lives and stay home. Now, as President Donald Trump aims for a swift nationwide reopening, he faces a new challenge: convincing people it's safe to come out and...
Think things are bad for airlines? It's about to get worse
The biggest and most profitable U.S. airline just posted its first quarterly loss in more than five years. Now things are going to get really bad. Delta Air Lines Inc. reported Wednesday that it lost $534 million in the first three months of the year, when it suffered a glancing blow from the coronavirus pandemic...
Delta's 1st quarterly loss in 5+ years; worse is on the way
Delta Air Lines, the biggest and most profitable U.S. airline, lost $534 million in the first quarter, a setback that will appear trivial when the full force of the pandemic is revealed in the current quarter. Delta warned Wednesday that revenue during the April-through-June quarter, typically a period of harried...
Major airlines line up to split $25 billion in payroll aid
The nation’s biggest airlines have tentatively agreed to terms for $25 billion in government aid to pay workers and avoid massive layoffs in an industry that has been slammed by the coronavirus pandemic. The assistance will include a mix of cash and loans, with the government getting warrants that can be...
Airlines and Trump administration haggle over payroll grants
The Trump administration is proposing that a significant amount of the $25 billion in cash that airlines expected to keep workers on the job will instead be low-interest loans that big airlines will have to repay, according to two people familiar with the matter. The Treasury Department began sending proposals...
Virus puts brakes on US economic engine: consumer spending
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus. ________________________ CONSUMER DURESS: The consumer drives about 70% of all economic activity in the...
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