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Sonic Automotive, which operates 95 US car dealerships, started laying off and furloughing about a third of its workforce as the coronavirus pandemic crushed its sales. Then, it changed its executives’ pay packages — handing them a multimillion-dollar windfall. On April 10, Sonic’s board gave its top executives stock options to replace performance-based share awards, …
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Delta Air Lines is making moves to ensure that planes don’t get too crowded. The company recently announced that it would be adding more flights so that it can continue to keep planes at about 60 percent capacity. The move is reportedly part of Delta’s plan to maintain social distancing amid the coronavirus outbreak and …
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Delta Air Lines, with more than 14,000 pilots on its roster, expects to have 7,000 more than it needs in the fall as the coronavirus pandemic weighs on its operations, according to a memo to flight operations employees seen by Reuters. The memo follows Delta’s announcement earlier on Thursday that it would no longer fly …
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The coronavirus crisis is reportedly forcing US airlines to burn through more than $10 billion in cash each month as demand for travel evaporates. Industry group Airlines for America plans to detail the pandemic’s staggering cost at a Wednesday US Senate hearing on the state of the beleaguered aviation sector, Reuters reported. “The US airline …
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Airline stocks took a nosedive Monday after investing icon Warren Buffett said he dumped his company’s stake in the four major US carriers. Shares in American Airlines, Delta Air Lines and United Airlines each plunged at least 14 percent Monday after the billionaire Berkshire Hathaway boss said his conglomerate has completely abandoned its investments in …
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Delta Air Lines, the biggest and most profitable US airline, lost $534 million in the first quarter, a setback that will appear trivial when the full force of the pandemic is revealed in the current quarter. Delta warned Wednesday that revenue during the April through June quarter, typically a period of harried travel, will plummet …
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US airlines are estimated to be sitting on more than $10 billion in travel vouchers that should have been cash refunds from canceled flights, a group of senators released on Friday. Many US airlines are canceling 60 percent to 80 percent of their flights, and under federal law passengers on those flights are entitled to …
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Thousands of Delta Air Lines employees have volunteered for unpaid time off as the carrier tries to save money during the coronavirus crisis. Some 35,000 workers have signed up for unpaid leaves of absence that the Atlanta-based carrier started offering last month, CEO Ed Bastian said in a Thursday memo. That amounts to more than …
Sonic Automotive, which operates 95 US car dealerships, started laying off and furloughing about a third of its workforce as the coronavirus pandemic crushed its sales. Then, it changed its executives’ pay packages — handing them a multimillion-dollar windfall. On April 10, Sonic’s board gave its top executives stock options to replace performance-based share awards, …
