U.S. airlines are collectively burning more than $10 billion in cash per month and averaging fewer than two dozen passengers per domestic flight in the wake of the coronavirus pandemic, industry trade group Airlines for America said in prepared testimony seen by Reuters ahead of a U.S. Senate hearing on Wednesday.
FILE PHOTO: Flight attendants talk in a nearly empty cabin on a Delta Airlines flight operated by SkyWest Airlines as travel has cutback, amid concerns of the coronavirus disease , during a flight departing from Salt Lake City, Utah, U.S. April 11, 2020. REUTERS/Jim Urquhart
“The U.S. airline industry will emerge from this crisis a mere shadow of what it was just three short months ago,” the group’s chief executive, Nicholas Calio, will say, according to his prepared testimony. U.S. airlines have canceled hundreds of thousands of flights, including 80% or more of scheduled flights into June as U.S. passenger traffic has fallen by 95% since March. They are conducting additional cleaning measures and requiring all passengers to wear facial coverings.
The U.S. Treasury has awarded nearly $25 billion in cash grants to airlines to help them meet payroll costs in exchange for them agreeing not to lay off workers through Sept. 30. Major airlines have warned they will likely need to make additional cuts later this year to respond to a long-term decline in travel demand.
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