American Airlines To Furlough 19K Thursday When Federal Payroll Support Expires

American Airlines Group Inc (NASDAQ: AAL) said in a letter to employees Wednesday that 19,000 will be furloughed starting Thursday after the federal Payroll Support Program expires.Airline Layoffs Underway As Stimulus Talks Continue: Talks on extending the relief program under the Coronovirus Aid, Relief and Economic Security — CARES — Act are ongoing between the White House and House Speaker Nancy Pelosi, American Airlines CEO Doug Parker said in the letter, citing a conversation with Treasury Secretary Steven Mnuchin. The Senate and the House of Representatives are also deliberating the extension of payroll support an alternative to the broader relief …read more

Source:: Yahoo Finance