Originally Posted by
nootpilot
For July, American Airlines Group (NASDAQ:AAL) says it plans to fly 55% of its domestic schedule from last year and nearly 20% of its international schedule.
Key words...”says it plans...”
Watch what will happen next month...
in the mean time...
American Airlines (AAL), said that 4,500 pilots and flight attendants had taken an offer as of a month ago.
American Airlines recently notified 17,000 managers and support staff of plans to cut 30% of the jobs in their areas by fall. They were offered a choice of packages that could pay six months at one-third of their normal pay, along with 250,000 frequent flyer miles plus five years of travel benefits, or only three months at one-third pay, but with 21 months of health benefits and 10 years of travel benefits.
That was the carrot. The stick: Those who were involuntarily laid off would not get severance. And they would stay on payroll only through Sept. 30, when prohibitions against involuntary layoffs in the federal airline bailout bill expire.
Yeah this is all based on Vaju saying these things. It would appear to me this is a cash generating scam to get a bunch of bush league investors to bite. Anyway, they are still down what, 85%? lol
Originally Posted by
nootpilot
The May jobs report, out this morning, is expected to show the US economy shed another 8 million jobs over the month, bringing the tally of jobs lost during the pandemic to 28.5 million. That would push the unemployment rate to nearly 20%, a record high.
Since March 18, nearly 43 million Americans have filed for initial unemployment benefits.
Is 50% Domestic demand by October wishful thinking?🤔🤔🤔
Its out. It did better than they expected, with an obvious catch.
Originally Posted by
WhiskeyDelta
So why am I seeing reports just now of the unemployment rate "unexpectedly" dropping to 13.3% and the economy adding 2.5 million jobs in May?
Edit: I think you were using a survey of economists predicting the increase in rate and the unemployed. The actual report was much better than those predictions.
Most likely due to the fact that most, if not nearly all of those jobs are from the service industry which has generally been opened nationwide these last couple of weeks.
Leisure and hospitality workers made up almost half the increase, with 1.2 million going back to work after a reported loss of 7.5 million in April
Jobs in bars and restaurants increased by 1.4 million as states began to relax social distancing measures.
Those two there made up the lion share of the recovery, which is great, don't get me wrong, but I see it as the country easing restrictions more than say it is in a full blown recovery. People need to eat and drink, its no wonder its improved.
As for the "the one who shalt not be named", he is losing his touch.