As the major U.S. airlines, still dealing with the fallout of the coronavirus, prepare to furlough thousands of workers, President Trump is ready to throw the industry a lifeline.
“We’ll be helping the airlines, you have to help the airlines, it’s a tough business always is. Airlines are a tough business in good times and we are about ready to get back to good times” said Trump on his way to Kenosha, Wis. without elaborating on specifics.
His comments follow similar remarks last week from White House Chief of Staff Mark Meadows, who hinted that an executive order could be becoming.
Already the industry received $25 billion from the federal government in March to prevent coronavirus-related layoffs or furloughs through September.
im Bianco, of Bianco Research, points out the sharp rise in Zoom stock–which hit an all-time high today and is close to surpassing IBM in market value–against airline stocks, which have been pummeled.