There's a lot of discussion about the need to bailout the airline industry because of the number of workers employed. But I'd like to remind everyone that just as many people in the US work in public transit agencies as air transportation: bts.gov/transportation
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Keep that fact in mind when we throw $50 billion at airline companies and do nothing for public transit agencies.
I hope that's not what happens, but.
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Airlines are essentially asking for ~$38 billion in free cash and $29 billion in loans.
I think it would be appropriate for transit agencies to get the same, if not more, given that they, you know, actually serve in the public interest.
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My latest summary/analysis of airline and airport aid requests, now on free side of paywall:
Airlines Ask Over $65 Billion in Federal Relief; Airports Want $10 Billion enotrans.org/article/airlin
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Airlines should get a bailout, but only if:
- Workers get a large share of the votes on company boards;
- The government gets equity;
- Labor rights of people throughout the airline industry improve; and
- The airline companies develop a real plan to reduce aviation emissions.
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For those arguing airline industry is too important to let collapse:
1—It has already collapsed.
2—If current airlines fail, future airlines will pick up slack, buy planes, employ pilots, etc. American, Delta, etc are not too important to fail.
3—We need to support workers, yes.
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Even more people could work in transit if we build high speed rail like they do in modern countries. It would help with the impending climate catastrophe as well.
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Well it's never actually an 'airline's bailout. It's a bailout for creditors who are the bank lending the commercial paper - backed by - more commercial paper. So every bailout is actually just a bank bailout
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Airlines Want A $58 Billion Bailout After Spending $45 Billion On Stock Buybacks
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