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Southwest Airlines Says It Won't Take Coronavirus Government LoanSouthwest Airlines (NYSE:LUV) said Wednesday it will not participate in a U.S. Treasury-run loan program designed to support the airline industry, reaffirming its place among the healthiest companies in the aviation industry. Southwest, like all airlines, has been hit hard by the coronavirus pandemic, which has caused travel demand to evaporate and left airlines bleeding cash. The CARES Act earlier this year provided up to $50 billion to support the industry, including $25 billion in payroll… (www.fool.com) More...
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i wish southwest airlines the best..part of the "loan"to airlines was a promise to continue personnel on payroll and not lay off at least until october..if southwest is in such a great financial position that they do not need the loan,great..we shall see if passenger traffic picks up for anyone..southwest is not known for layoffs or fuloughs,but by not taking the loan,they can indeed lay off employees even before october,and thats usually the first place airlines cut costs...
Great airline in all aspects. Like Ford who did no bail out.
It will be interesting to see how well they handle everything and keep everyone on payroll.
More layoffs for SWA
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*cough* Sure... *cough* Fuel subsidies? Other sundry tax breaks, and giveaways? I'm sure they won't turn down money earnestly shoved into their hands.
Were you born this stupid, or do you have to work at it?