Ongoing US travel crisis is causing thousands of job cuts in the airline sector amid the coronavirus pandemic
Flight attendants photograph a plane landing at Reagan National Airport during the coronavirus crisis while on a layover in Washington, US, April 29, 2020.
Late Friday, Spirit AeroSystems said that in response to lower production rates from Boeing Co and Airbus SE it would layoff 1,450 workers in Kansas. Boeing Chief Executive Dave Calhoun said he expects it will "take two to three years for travel to return to 2019 levels and it will be a few years beyond that for the industry to return to long-term growth trends." The cuts in some areas, such as commercial airplanes, will be more than 15%, Boeing said.
Labor union SEIU said Thursday at least 13,000 union members at airports have been laid off and another 1,000 layoffs are planned. The U.S. Treasury has not yet awarded $3 billion in payroll assistance cash grants approved by Congress for airport contractors such as baggage handlers and airplane caterers.
JPMorgan Chase said in a research note on Friday that "October 1st is likely to emerge as one of the darkest days in history for airline labor" — though it noted that Congress could opt to extend additional assistance.
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