“Time is running out,” the airline CEOs’ letter says. “The worker payroll protection grants are critical to saving the jobs of our employees.”
The airline executives are also pushing for at least $29 billion in loans or loan guarantees, and are pledging that if they get them they will put limits on executive compensation and eliminate stock buybacks and dividends for the life of the loans.
Atlanta-based Delta has already cut hundreds of contractor jobs and said it is substantially reducing its use of consultants and contractors. The airline is cutting 70% of flights and parking at least half of it fleet.
More than 13,000 Delta employees have also volunteered to take unpaid leave, and the airline is taking out billions in loans.