{"id":1663203,"date":"2022-09-28T19:50:06","date_gmt":"2022-09-28T23:50:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1663203"},"modified":"2022-09-28T19:51:26","modified_gmt":"2022-09-28T23:51:26","slug":"lawmakers-unions-press-u-s-airlines-to-hold-off-on-stock-buybacks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lawmakers-unions-press-u-s-airlines-to-hold-off-on-stock-buybacks\/","title":{"rendered":"Lawmakers, unions press U.S. airlines to hold off on stock buybacks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flawmakers-unions-press-u-s-airlines-to-hold-off-on-stock-buybacks%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1663203&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By David Shepardson<\/p>\n<p>(Reuters) \u2013     Labor unions and some U.S. lawmakers are pressing airlines not to resume stock buybacks after a COVID assistance prohibition expires this week.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Representative Peter DeFazio, a Democrat who chairs the House Transportation and Infrastructure Committee, is holding a hearing on Thursday on investing in transportation workers that will discuss the issue.<\/p>\n<p>DeFazio is circulating a letter to colleagues seen by Reuters that urges airlines to \u201crefrain from initiating stock buybacks \u2026 at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to every community.\u201d\u00a0<\/p>\n<p>Aviation unions launched a campaign in August to pressure airlines against stock buybacks. It came as major carriers are negotiating new contracts with their pilots, who are asking for higher pay and improvements in schedules.<\/p>\n<p>Sara Nelson, president of the Association of Flight Attendants, is among those will testify at Thursday\u2019s House hearing.<\/p>\n<p>\u201cWhile airlines are just now starting to make a profit, the recovery is not complete and the austerity of twenty years prior has not been corrected for airline jobs,\u201d according to Nelson\u2019s written testimony seen by Reuters. \u201cWe can\u2019t allow CEOs to send one dollar to Wall Street before fixing operational issues and concluding contract negotiations.\u201d<\/p>\n<p>Airlines for America, a trade group, said airlines are in full compliance with the payroll assistance program.<\/p>\n<p>The group noted U.S. airlines have been\u00a0\u201caggressively hiring across the industry \u2026 to accommodate the rapid return of demand for air travel\u201d and are \u201cmaking significant investments in new aircraft.\u201d<\/p>\n<p>Congress approved $54 billion in three rounds covering much of U.S. airline payroll costs for 18 months through September 2021. Earlier this month, the chairs of two other congressional committees sought a federal probe into whether airlines used payroll funds to fund pilot buyouts and early retirements.<\/p>\n<p>American Airlines received $12.6 billion, Delta Air Lines $11.9 billion, United Airlines $10.9 billion and Southwest Airlines $7.2 billion.<\/p>\n<p>Out of $54 billion, airlines must repay $14 billion, or 26.2% of the funding.<\/p>\n<p> (Reporting by David Shepardson; Editing by Chris Reese)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/lawmakers-unions-press-u-s\/attachment\/american-airlines-passenger-planes-crowd-a-runway-where-they-are\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8R14I-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8R14I-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/lawmakers-unions-press-u-s\/attachment\/delta-air-lines-passenger-planes-crowd-a-runway-in-atlanta\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8R14J-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8R14J-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/lawmakers-unions-press-u-s\/attachment\/u-s-rep-defazio-joins-house-speaker-pelosi-for-a-news\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8R14E-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8R14E-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By David Shepardson (Reuters) \u2013 Labor unions and some U.S. lawmakers are pressing airlines not to resume stock buybacks after a COVID assistance prohibition expires this week. Representative Peter<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1663203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1663203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1663203"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1663203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1663203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1663203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1663203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}