No US airlines will go out of business thanks to Trump administration, congressional support: Delta CEO
'There's no government in the world that's been as responsive,' the Delta CEO said
Delta Air Lines CEO Ed Bastian argues it has seen the worst of the coronavirus, but there is still a long way to go.
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Delta CEO Ed Bastian said Wednesday he doesn't believe any U.S. airline will go out of business because of the coronavirus pandemic, thanks to assistance from the Trump administration and federal lawmakers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 65.56 | +1.08 | +1.67% |
"Internationally, we are seeing some airlines going out of business," Bastian told FOX Business' Maria Bartiromo. "But in the U.S., I give primary credit to the president, the administration, leaders on the Hill. They were able to pass the CARES Act, and within the airline industry we had the payroll support program, so as an industry we received $25 billion to keep our employees in place."
BOEING CONSIDERS 10% CUT TO WORKFORCE
Boeing CEO David Calhoun said earlier this month that at least one U.S. airline is likely to fold as a result of the challenges of the coronavirus pandemic.
Delta Air Lines Boeing 767-300 lands in Amsterdam in August 2018. (Photo by Nicolas Economou/NurPhoto via Getty Images, File)
"There's no government in the world that's been as responsive, I'm proud to say. And it's kept all the major airlines in business," Bastian said.
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The U.S. Treasury has given airlines $25 billion in cash grants to keep workers employed during the outbreak.
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