Airline recovery taking longer than we thought! The CEO of Southwest Airlines is saying it could take 10 years for the industry to come back. Airline expert Jay Ratliff says that's alarming - especially coming from Southwest. "If it takes anywhere near that time --- we will be talking about a change in the landscape in the future of aviation - unlike anything we have ever seen before!"
Ratliff continues: "If they say it's going to take the industry - themselves included --- that's concerning because the low-cost carriers, in my opinion, will recover so much faster than the larger carriers. Southwest Airlines didn't lay off any employees because 19 per cent of their workforce stepped up for early retirement. Other airlines still say recovery should only be a few years.
What does this mean to you? Unless you work for an airline, should this matter to you? He says, "Why should you, as a taxpayer, be responsible for shelling out tens of billions of dollars AGAIN to the airlines so they can make payroll only for another 6 months when it will take up to 10 years for them to recover?!?"