Actual bill language

Page 510 - 25B loan
- allowance for 10% of total workforce immediate involuntary furlough
- stock buy back/dividend restrictions until loan is paid back +12months

Page 589 - 25B possibly a grant
- with no involuntary furloughs or pay cuts until 9/30/20
- no stock buybacks or dividends until Sept 30, 2021


If UAL management takes just the loan they COULD still furlough pretty deep into the pilots. 10% of 100,000 employees and we have the bigger payroll compared to other work groups. If we give them voluntary furloughs and reduced lines they still have that 10% of involuntary furloughs. The bill does some good but there are a lot of ways for management to manipulate its implementation.