Airline Industry has another Brutal Quarter with Losses in the Billions

The arrival of the global COVID-19 pandemic in 2020 has affected almost every aspect of life in the U.S. and almost every nation around the world. The lockdown and quarantines that have been enacted around the world have had the effect of causing huge losses for the airline industry. Not only has quarantine and isolation caused major problems for travelers, but the failing economy caused by major shutdowns around the planet have led to the cancellation of holidays and travel plans to all corners of the world.

The U.S. has been particularly hard hit by the pandemic as members of the airline industry have called on the government for a bail out. In the early days of the pandemic, the airline industry in the U.S. was given a $25 billion bail out from the U.S. Federal Government to protect the jobs of workers in many different areas of the airline industry. By October 1st, 2020, the furlough protection provided by the U.S. Government ran out and led to the decision to lay off many members of staff. As soon as the federal protection ran out, it has been reported the U.S. airline industry alone laid off more than 19,000 workers leading to a high rate of unemployment for the sector.

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