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Airlines say a $25 billion COVID lifeline wasn't enough as CEOs of American
Industry lobby Airlines for America sent a letter to US Congressional leaders CEOs from America's seven largest airlines signed the letter noting the logistical challenges of distributing a vaccine They asked for an extension of the Payroll Support Program before the end of 2020 US airlines received $25billion in federal payroll aid between March and September Seven of the largest US airlines have made a plea to Congress for a new bailout, saying the $25 billion payroll lifeline… (www.dailymail.co.uk) Altro...
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Corporate welfare makes me vomit, but this money apparently does go to keep the workers employed. I suppose this program does make sense if you believe that post-Covid demand will quickly rise, as I do. No more money after the crisis is over, however. If, post-crisis, demand doesn't pick up enough then the airlines will have to adjust to that new market reality, possibly to include layoffs.
Corporate welfare is never a good idea. Airlines have always been a boom and bust industry and to get them used to living on money borrowed from China, for our grandkids to pay back, is a bad precedent.
COVID will probably be around awhile. The government should be bailing out citizens not corporations IMO.
