GK hints at layoffs in 2021. (Aug 8th CBS)
08-10-2020, 05:09 AM
#13
Gets Weekends Off
Joined APC: Aug 2015
Posts: 805
Originally Posted by at6d
If all airlines stopped flying, our nation would collapse.
08-10-2020, 05:25 AM
#14
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Joined APC: Jul 2007
Posts: 3,611
Originally Posted by ZapBrannigan
I think the conventional wisdom is that we will need additional downsizing if traffic doesn't continue to rebound.
The election and CARES2 are wildcards. But there is an additional wildcard. 2021 is the airline's 50th anniversary. I can't help but to wonder if GK would be willing to be the first CEO to furlough on the eve of the airline's 50th?
If the survival of the airline is at stake, I'm sure he would. The question is would he entertain another early retirement program, 3 month EXTOs, part time lines, etc to avoid the stain on the airline's sterling reputation during what should have otherwise been a celebratory year?
I'm betting that he is planning for his retirement. If he could get the airline through this crisis without a involuntary furlough he would cement his place in airline history on the level of Herb. Then he could retire a hero.
I'm generally pretty negative, but in this case I'm trying to remain optimistic that between the election year, the 50th, GK's legacy, and some promising therapeutics... with CARES2 we might actually make it through this.
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The election and CARES2 are wildcards. But there is an additional wildcard. 2021 is the airline's 50th anniversary. I can't help but to wonder if GK would be willing to be the first CEO to furlough on the eve of the airline's 50th?
If the survival of the airline is at stake, I'm sure he would. The question is would he entertain another early retirement program, 3 month EXTOs, part time lines, etc to avoid the stain on the airline's sterling reputation during what should have otherwise been a celebratory year?
I'm betting that he is planning for his retirement. If he could get the airline through this crisis without a involuntary furlough he would cement his place in airline history on the level of Herb. Then he could retire a hero.
I'm generally pretty negative, but in this case I'm trying to remain optimistic that between the election year, the 50th, GK's legacy, and some promising therapeutics... with CARES2 we might actually make it through this.
Sent from my iPhone using Tapatalk
Who are you? And what have you done with my Eeyore friend???
08-10-2020, 05:34 AM
#15
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Joined APC: Oct 2017
Posts: 272
Originally Posted by Proximity
Airlines won't stop flying. Worst case scenario is that the pax don't return in the short to medium term. Airlines go bankrupt assets are either sold off or are restructured to be much smaller. In a true capitalism, the market would sort it out. I'm not arguing that because America is a place where corporations get plenty of "welfare" and we should fight for our share. It would also be very painful to a seniority based workforce.
08-10-2020, 06:32 AM
#16
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Joined APC: Nov 2019
Posts: 1,256
Airlines will not "stop flying." We are operating at 30% pax counts from 2019 levels. And this is the "reduced" flying map.
The stock market has basically rallied since May. So "reduced flying" has zero impact on the stock market, and the economy.
When people say "having the airlines back is key to getting the economy back" well the factual data shows otherwise. The airlines can't get past 30% PAX counts but the stock market has rallied since May. Unemployment numbers are improving.
Don't think ex Goldman Sachs Steve Mnuchin and company have missed this detail either.
"Reduced Flying" map:
The stock market has basically rallied since May. So "reduced flying" has zero impact on the stock market, and the economy.
When people say "having the airlines back is key to getting the economy back" well the factual data shows otherwise. The airlines can't get past 30% PAX counts but the stock market has rallied since May. Unemployment numbers are improving.
Don't think ex Goldman Sachs Steve Mnuchin and company have missed this detail either.
"Reduced Flying" map:
Last edited by senecacaptain; 08-13-2020 at 05:30 AM.
08-10-2020, 07:10 AM
#19
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Joined APC: Mar 2013
Posts: 539
Originally Posted by Mozam
You are wasting your time . Some on here just do not understand economics.
Lets call it what it is. We want our companies, our airlines to survive. We know that travel is important, although people can always drive. We know face to face meetings are important, but technology has allowed video conferencing and the like.
Air travel almost certainly will not go away. Not because the USA depends on it for its very survival, but rather because we “want” to have airlines. We want the capability to go somewhere fast.
All that said there is nothing wrong with wanting airlines to survive. Nothing wrong with wanting air travel to survive. After all, that’s how we pay our bills!
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