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On Thursday, United Airlines' (UAL.O) and its pilots' union said that they had reached an agreement on two different resolutions to reduce involuntary furloughs in August. The company said that it would keep pilots ready once the global travel demand starts to pick up.
The Chicago-based airline warned its employees last week that it could furlough as many as 36,000 U.S.-based frontline workers or about 45% of its total staff including 2,250 pilots.
"Our primary goal throughout this crisis has been to ensure United - and the jobs it supports - are here when customers are flying again. The United Airlines projected furlough numbers are a gut punch, but they are also the most honest assessment we've seen on the state of the industry," the airline said.
The U.S. government offered $50 billion to support the airline industry which agreed not to lay off workers or cut pay until September 30.
The Dollar fell on Tuesday, with the Euro and the British Pound Sterling gaining strength on the back of news that European Union leaders have agreed to roll out additional recovery funds in the region. New hopes for a potential COVID-19 vaccine ...
Gold prices were down slightly on Wednesday in Asia, losing gains made in a previous session. However, the safe haven asset’s losses remained limited as COVID-19 worries mounted on top of worsening U.S.-China relations. Gold futures ...
On Monday, United Airlines (UAL.O) announced that it would continue adding more flights for international routes in September. The airline company plans to reintroduce flights that were canceled due to coronavirus pandemic. United Airlines ...
Asian shares recorded a four-month high on Friday backed by strong payrolls data and an upbeat recovery monitored in China’s services sector. However, an increase in coronavirus cases in the United States restricted further risk-taking. MSCI’s ...
On Sunday, American Airlines Group Inc. (AAL) said that it is planning to raise as much as $3.5 billion from stock and notes offerings, as the ailing U.S. carrier grapples with the financial fallout of the travel restrictions caused by the ...
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