United Airlines will furlough 16,370 workers in October as losses mount for carriers

[TexasTowelie]

United Airlines plans to furlough 16,370 workers on Oct. 1 as time runs out for a federal rescue to keep workers on the job.

Based in Chicago, United is the latest airline to detail deep workforce cuts coming as the federal government’s previous payroll support package expires and carriers survey a severely depressed travel environment.

“The pandemic has drawn us in deeper and lasted longer than almost any expert predicted, and in an environment where travel demand is so depressed, United cannot continue with staffing levels that significantly exceed the schedule we fly,” United said in a statement. “Sadly, we don’t expect demand to return to anything resembling normal until there is a widely available treatment or vaccine.”

United informed workers of the furloughs Wednesday. The count also includes 1,400 management and administrative employees who were already informed that their jobs would be eliminated at the end of the month, the company said.

Read more: https://www.dallasnews.com/business/airlines/2020/09/02/united-airlines-will-furlough-16370-workers-in-october-as-losses-mount-for-carriers/

[ProfessorGAC]

1. Important Quote

"The pandemic has drawn us in deeper and lasted longer than almost any expert predicted, and in an environment where travel demand is so depressed, United cannot continue with staffing levels that significantly exceed the schedule we fly,” United said in a statement. “Sadly, we don’t expect demand to return to anything resembling normal until there is a widely available treatment or vaccine.”

The statement blames the pandemic that won't abate!
I hope these 16,000 people remember this on November 3.
Of course, most of them are likely in Illinois, which is blue anyway. But, down ballot voting against the fans of the idiot who botched the response could be important.

[CrispyQ]

2. But the DOW.

[eleny]

3. United's October surprise

[Newest Reality]

4. America is...

America is coming back big time!!!

Back to unemployment, poverty, hunger and homelessness as well as more stress, striving, uncertainty and insecurity.

Now, that's a GREAT economy, ey? It just depends on what you mean by great.

Meanwhile...at the FED...pump, swoosh, pump, swoosh! Keep Wealth Great! The chosen shall remain unscathed.

[Klaralven]

5. U.S Air Carrier Traffic Statistics through May 2020

https://www.transtats.bts.gov/TRAFFIC/

Bureau of transportation statistics is always about 3 months delayed, but in May available seat miles were 20,285,365, down from 108,347,293 the previous May.

Revenue passenger miles were 7,686,717, down from 92,967,337 the previous May. The load factor had dropped from 85.8% full to only 37.89% full.

From the graphs shown on business news show, it doesn't appear the traffic is much greater now than in May.

Longer term, business has figured out how to operate without the expense of business travel. Conferences, conventions and similar destination confabs will not happen again for a long time.

[Klaralven]

6. Effects of Novel Coronavirus (COVID-19) on Civil Aviation: Economic Impact Analysis

https://www.icao.int/sustainability/Documents/COVID-19/ICAO_Coronavirus_Econ_Impact.pdf

Comprehensive presentation of international and domestic air travel through July with projections for the future. International air travel is hit harder than domestic, due to all the quarantine requirements on incoming passengers.