It only took the passage of a $1.9 trillion economic relief passage including tens of billions of dollars in airline subsidies, for a New York Times opinion to question the wisdom of such spending. A Critical Look At Airline Bailouts In The New York Times The piece comes from the always-feisty Andrew Ross Sorkin in his […]
Buttigieg Hints Third Airline Bailout May Be Slipped Into Relief Bill
U.S. airlines have already been bailed out twice and are pining for a third bailout. While negotiations are ongoing, Transportation Secretary Pete Buttigieg expressed both an openness and confirmation of discussion on including a third bailout in a pending Congressional relief bill. Is A Third Airline Bailout Coming? Appearing on ABC’s “This Week,” Buttigieg essentially […]
Another Massive Bailout To US Airlines While Most Workers Get Bupkis…
The US Congress has just handed US airlines $15 billion in so-called “payroll support” as part of a new $900 billion stimulus bill. The math is alarming, especially considering that many Americans actually suffering will receive a pittance. US Airlines Benefit Greatly In New Stimulus Bill With Congress unable to reach a deal ahead prior […]
Insanity: South African Airways Receives Huge Bailout
During a time in which even once-healthy airlines around the world are fighting for survival, South Africa just injected a whole lot more cash into South African Airways. Is this simply doing the same thing over and over again while expecting a result, the definition of insanity? Or is it even worse considering the current […]
The Fallout of No New Airline Bailout
Now that furloughs have been announced, the failure to secure a second bailout for airlines is no longer theory, rather it’s reality. If you are considering booking travel or signing up for a new credit card please click here. Both support LiveAndLetsFly.com. If you haven’t followed us on Facebook or Instagram, add us today. First Bailout Labor Guarantees […]
United’s Last Ditch Effort To Secure Second Bailout
With furloughs looming, United Airlines has teamed up with its union counterparts to offer one final plea for a second bailout to Congress and the Administration. United Airlines Offers Final Plea For Second Bailout With furloughs less than two weeks away, United shared another note it sent to key political figures yesterday. The letter is […]
Delta CEO Warns Of Catastrophic Job Losses Without Another Bailout
Rich Uncle Pennybags Bastian has warned of “furloughs in the tens of thousands” without more help from the federal government for the U.S. airline industry. Joining the Kirby Khorus, Bastian is firmly behind another taxpayer-funded bailout for Delta and other U.S. airlines, insisting it is necessary to avoid catastrophic job losses. Delta CEO: Catastrophic Job […]
United Airlines CEO Courts White House Officials For Second Bailout
United Airlines CEO Scott Kirby is ramping up pressure for an extension to the Payroll Support Program by personally lobbying senior members of the White House and Congress. Will he succeed in a helping to secure a second bailout? CEO Kirby: United Will Survive With Or Without Second Bailout In a video message to employees […]
Desperate Republicans Embrace Another Bailout For U.S. Airlines
You may dispute the bias of my headline, but it is not intended to be a knock against the Grand Old Party as much as a descriptive adjective. The news, however, objectively represents a certain amount of desperation on the part of Senate Republicans in tight races as well as the President. Put simply: let […]
United CEO Hopeful For New $32 Billion Airline Bailout
In a town hall meting with employees, United Airlines’ CEO Scott Kirby expressed hope that an additional round of airline federal payroll support will avert looming October job cuts. Kirby “Hopeful” That CARES Act 2 Will Pass Speaking to employees last week, Kirby said: “I know October 1st is a scary date that’s looking at […]
Delta CEO Indirectly Hints At Second Airline Bailout
Reading between the lines of a recent interview, Delta Air Lines CEO Ed Bastian is laying the groundwork for a second bailout to protect airline employees. Delta CEO Ties Government Funding To Job Preservation, Hints At Second Bailout Speaking to CNN’s Poppy Harlow, Bastian first clarified that Delta had not actually accepted an additional $1 […]
EL-AL Accepts Bailout, Faces Nationalization
EL AL Israel Airlines has accepted a bailout worth $400 million from the government that will likely give Israel a majority stake in its flag carrier. EL AL Bailout Details The bailout includes: $250 million government-backed loan – Israel will guarantee 75% of the loan in case of default $150 million stock offering in the […]
Airlines Want a New Bailout, Tough Luck
Airlines have reportedly asked for an additional $32bn in new bailout money to weather the Coronavirus crisis, but it’s time for the US taxpayer to say “tough luck.” If you are considering booking travel or signing up for a new credit card please click here. Both support LiveAndLetsFly.com. If you haven’t followed us on Facebook or Instagram, add […]
Wow: Lufthansa Board Rejects German Bailout
The Lufthansa Supervisory Board has rejected Germany’s bailout package over new EU-imposed slot restrictions. On Monday, Germany and Lufthansa agreed in principle on a €9 billion aid package. This was not a free gift, but a 4% loan with many strings attached. It also gave Germany a 20% stake and two seats at the table. The […]
Germany Will Control 20% Of Lufthansa Group In Exchange For €9 Billion Bailout
Lufthansa and Germany have agreed to a €9 billion bailout that will provide a vital lifeline to the Lufthansa Group and give the German government two seats at the table. Germany will now is a part-owner of Austrian Airlines, Brussels Airlines, Eurowings, Lufthansa, and SWISS. Key Details About Lufthansa Group Bailout From Germany Here are […]
Lufthansa Remains A Political Pawn In Bailout Debate
Another week has flown by with Germany and Lufthansa still unable to come to an agreement on a bailout. The unresolved issue remains how much control Germany should exert over Lufthansa. Yesterday, German Economy Minister Peter Altmaier said his government his moving toward a more “concrete model” in finalizing an aid package for Lufthansa. What […]
Richard Branson’s Questionable Plea For A Virgin Atlantic Bailout
Virgin Atlantic is in big trouble. Backed against the wall with mounting debt and declining revenue, the iconoclast founder and majority owner, Sir Richard Branson, has made one final plea to the United Kingdom, warning Virgin will collapse without a government loan. But the public is skeptical about a Virgin Atlantic bailout. Richard Branson Promises […]
United CEO Thanks Us For The Bailout…
If you’re a United MileagePlus member, you probably received an email last night from CEO Oscar Munoz thanking you for the bailout. It’s a nice note overall, in the sense that it is sincere in gratitude and cautiously optimistic while still being realistic. Here’s the letter in full: Dear Matthew, I hope this note finds […]
Would You Support Airline Bailouts If Executives Chipped In Themselves?
I’m curious, would you be more likely to support a bailout for the airline industry if executives returned the bulk of their compensation or chipped in from their own pockets? Richard Branson, for example, is worth over $4BN, but has told Virgin Atlantic employees they need to take eight weeks of unpaid leave (which apparently […]
United Airlines Warns Of Mass Layoffs Absent Government Bailout
The message from United Airlines is clear: bail us out or we are going to start laying off massive number of workers. Earlier today I shared that United Airlines will reduce international service by 95% in April. Domestic service will also be cut back significantly. That leaves huge payroll expenses in place with virtually no […]
