I don't know the exact $ figures associated with each metric. I do know that the OP misrepresented what was actually said.

Cheers to all the pilots who took the SRL for whatever reason they chose to do so. I recognized a lot of names on the captain side. Many people I assumed would step up to the plate. Many pleasantly surprised me. We are all in this together.

Because they are managed to weather the average downturn and not survive 3 months with nearly zero income. C suites prepared for the most likely economic setback and not the worst possible outcome.

I hope the airlines are required to put aside enough retained earnings to operate without income for 3-6 months in the future. But that has not been the benchmark for institutional financial security up to this point.

People should have 6 months of money set aside because it is far more likely for an individual to lose a job and be unemployed than it is for 100,000 employee, multi, multi billion dollar companies to be suddenly shut down in a mass panic.

Btw, calling this a downturn is akin to calling the Titanic a minor boating accident. This is orders of magnitude worse than the run of the mill recession.

3840 have been awarded leaves as of 3/20

We can only hope that this Titanic event ends nearly as suddenly as it began, whether it be in April or May... I'd say best case is a cure is found and nearly overnight the fear is gone... With credit still available, housing still strong, and peoples willingness to spend money still around we may have a fighting chance to end the downturn quickly.. Restaurants re-open, hotels re-open, and people go out in droves after being pent up at home for weeks on end.

If the fear and virus linger on for several months, the average person will have long ago run out of savings and have stopped paying their mortgages.. After that we know how the story unfolds.

Cant disagree with much of that.

Mortgage holidays are being issued now. New York just did 90 days. A good friend of mine in Texas also received 90 days of grace. I think that might get extended out to 6 months if need be. Easier to adjust repayment schedules than for countless people to go broke and banks to claim foreclosed houses that they don’t really want, and no one has money to buy.

Huh? Everyone staying at home is having absolutely zero chance of working? I didn't realize the 15-30 people on a 150 seat jet these days are the problem.

And what do you think shutting down airline travel for 2-3 weeks will accomplish?

This virus is here and here to stay. The only hope is to extend the curve, treat the elderly/compromised, and get the freakin vaccine in 12 months.

Deleted post.

Air Canada Lays Off 5,100+ Flight Attendants
 

Air Canada Lays Off 5,100+ Flight Attendants

March 20, 2020 by KateAfter the announcement yesterday that Air Canada would be cutting huge swathes of its flight schedule beginning April 1, it was inevitable that there would be some significant layoffs.

The sheer scale, however, is a little mindboggling.

The airline has invoked the force majeure provisions of the flight attendant union’s collective agreement to exercise broad powers to lay off union members.

Because I am a massive legal nerd, I squealed “Force majeure!” when I read that, and scared the hell out of my unsuspecting husband. Force majeure is often referred to as an “act of God”, though the definition is broader than that, and I’m certainly not prepared to pin this pandemic on any particular deity.

In short, force majeure is invoked when there’s an event of such great magnitude that is fundamentally changes the conditions of the contract. The collective agreement actually includes pandemic in its list of examples of what might constitute force majeure, so Air Canada’s on pretty solid legal footing for the clause being applicable.

Anyway, legal tangent aside, the upshot is that 3,600 mainline flight staff and every last one of Rouge’s 1,549 members will be laid off or placed on off-duty status (which is more like a temporary layoff with some benefits retained) by April 1. This represents roughly over half of Air Canada and Rouge flight attendants, and ~15% of the entire Air Canada workforce.