American Airlines Holdings Inc intends to apply for up to $12 billion in government aid, ensuring no involuntary layoffs or pay cuts in the next six months, executives said in a memo to employees on Monday.
) intends to apply for up to $12 billion in government aid, ensuring no involuntary layoffs or pay cuts in the next six months, executives said in a memo to employees on Monday.
American is eligible for about $6 billion in payroll grants and $6 billion in loans under a stimulus package meant to help airlines and other businesses weather a downturn from the coronavirus. American, with the largest number of employees of any U.S. carrier, also plans to improve the terms of voluntary unpaid leave and early retirement options for flight attendants and other employees, it said.
With airlines slashing their flying schedules as the coronavirus has crushed air travel demand, their need for pilots, flight attendants, mechanics and gate agents has fallen.
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American Airlines to apply for up to $12 billion in government aid: memoAmerican Airlines Holdings Inc intends to apply for up to $12 billion government aid, ensuring no involuntary layoffs or pay cuts in the next six months, executives said in a memo to employees on Monday.
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