Furloughs at U.S. legacy airlines could help low-cost carriers [Reuters]
Southwest Airlines Company (LUV)
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Source: Reuters
Furloughs at U.S. legacy airlines could help low-cost carriers like Southwest CHICAGO (Reuters) - U.S. legacy airlines with lackluster employee demand for early exit packages face large furloughs in the fall, signaling higher post-pandemic labor costs because union contracts require airlines to furlough in reverse order of seniority. This could create a competitive boost for budget carriers including Southwest Airlines ( LUV.N ), whose lower cost structure could help it win market share with cheaper fares, experts said. Labor will be the biggest single cost for airlines struggling to weather the coronavirus crisis that has crushed air travel demand. With no quick recovery in sight, United Airlines ( UAL.O ) said Wednesday it was sending 36,000 furlough warnings to union workers, nearly half its staff, after having received only 3,700 volunteers for early exit deals. Flight attendants are among the hardest hit. The union contract requirement to furlough lower-salaried union workers
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