American Airlines posts second-quarter loss of $2.1 billion

[mahatmakanejeeves]

Source: Tulsa World

American Airlines posts second-quarter loss of $2.1 billion
By Rhett Morgan Tulsa World 6 hrs ago

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20% of American Airlines workforce in Tulsa expected to be furloughed around October, letter shows

Crippled by the COVID-19-caused disruption in global demand in air travel, American Airlines on Thursday reported a second-quarter loss of $2.1 billion, or $4.82 per diluted share.

The news comes in the wake of the airline’s recent announcement that it could potentially furlough 25,000 employees nationwide because of plummeting revenues as a result of COVID-19.

American is expected to furlough 1,003 Tulsa employees, roughly one-fifth of its workforce in the city, around Oct. 1, according to documents. Additionally, 114 Tulsa employees who don’t have bumping rights are expected to be terminated around that date, records show.

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Read more: https://tulsaworld.com/business/american-airlines-posts-second-quarter-loss-of-2-1-billion/article_61364c90-d857-5edc-a914-781f87360ab3.html

[Hip2bSquare]

1. Makes me wonder...

...what our world is going to look like after we get through this. After the tear gas fades away and we head back to the office and schools are back to normal, and more importantly, when trump is gone, what will it look like? There is a running list of atleast 50 restaurants in Denver alone that are gone for good, with more to come, along with gyms, and clubs and on and on.

We have a rough few months to go and once the stain of bronzer is removed from our White House walls, we'll have an extremely tough and long financial recovery to deal with. Definitely something to think about!

[Initech]

2. And the cycle begins again.

Democrats build the economy, the republicans wreck it. Then the democrats build the economy again, and the GOP screams and whines at every move the Democrats make. But now Coronavirus has thrown in a new asshole and this one is going to be really difficult to recover from. It's going to be very long and very painful.