Month: September 2020


September

United Airlines plans to Furlough 16,000 Workers

We all know that the airlines industry, along with cruise lines, hotels and restaurants have been some of the hardest hit industries since Covid-19 hit but we are starting to see some recovery in some of these companies.  United Airlines 52 week high was $95.16.  They are currently trading at 1/3 of that price at just $36.88.   Unless Congress approves another $25 Billion bailout in the airlines industry, United is planning on furloughing as many as 16,000 workers – this is fewer than originally expected.  The reason for the number being significantly less than originally expected is that many employees have already taken early retirement, buyouts or long-term leaves of absence.  Any way that you look at it, this is better news for the airline industry and we hope that travel picks up sooner rather than later.