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U.S. airlines to make urgent call for new bailout ahead of October 1 job cuts

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U.S. airlines to make urgent call for new bailout ahead of October 1 job cutsMajor U.S. airlines plan to make a last-ditch bid to persuade Congress to grant them a new $25 billion bailout to help avert thousands of employee furloughs set to begin Oct. 1, even as a separate $25 billion in government loans for the sector sits untapped. The chief executives of American Airlines, United Airlines and JetBlue Airways and major aviation unions were scheduled to hold a news conference on Capitol Hill on Tuesday afternoon calling for a six-month extension of a payroll support program that consisted primarily of grants in exchange for keeping workers on the payroll. On Monday, two key Republican senators introduced legislation that would authorize another $25.5 billion in payroll assistance for passenger airlines, but congressional aides said it was unlikely to win passage given aid requests from many other struggling industries.

Source: yahoo.com/news