Originally Posted by libertyrisk

"Today, we furnished a Form 8-K to the Securities and Exchange Commission that outlines additional steps we’re taking. Each one is in line with the strategy to act quickly, conserve cash and proactively manage our schedule until demand returns.

-Adjusted capital expenditures* are expected to be approximately $4.5 billion for the year. Reducing capital investments this year gives us more short-term flexibility.
-Suspended share buybacks under the share repurchase program.
-Raised an incremental $2 billion in new liquidity in the form of a secured term loan facility.
-Communicated that May schedule reductions are expected to be at least 20% and announced plans to proactively evaluate and cancel flights on a rolling 90-day basis until there are signs of a recovery in demand.
-Oscar and Scott are forgoing 100% of each of their respective base salaries through at least June 30, 2020."