Delta Strikes Deal With Pilots to Avoid Furloughs
Delta Air Lines (NYSE: DAL) and the union representing its pilots have reached a cost-cutting deal that will prevent 1,900 pilots from being furloughed on Nov. 1.
Airlines have seen revenue fall due to the COVID-19 pandemic. With a turnaround expected to take years, the companies need to find ways to cut costs. The industry avoided layoffs this summer thanks to payroll protection funds provided as part of the CARES Act, but with those funds running out Sept. 30, airlines have laid off tens of thousands in recent weeks.
Image source: Delta Air Lines.
Source Fool.com
