Airline industry executives have some grim warnings about the future of travel in the U.S.
United Airlines Executive Chairman Oscar Munoz says airlines need to cut labor costs by as much as 50% to survive the coronavirus pandemic. He says even then, some carriers might not make it.
He says cutting payroll costs by 50% won’t necessarily mean cutting the number of jobs in half – because some pay more than others.
Munoz also believes that some airlines could adopt job-sharing programs where workers share a job and a salary for a period of time.
That would reduce worker hours and pay, eliminating the need for layoffs.
Have your travel practices changed because of COVID-19? Are you comfortable flying on a plane? When will you be comfortable flying again?
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