9/18, 8:57 PM (Source: TeleTrader)
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United Airlines could furlough 16K staff in Oct.

United Airlines' Chief Executive Scott Kirby notified on Friday the White House and the Congress that the company could furlough up to 16,000 staff from October if the government's relief is not extended in the meantime.

In response to the worsening situation in the airline industry, White House Staff Chief Mark Meadows recently revealed that major US airlines could receive an additional $25 billion to overcome the coronavirus crisis.

United's stocks plunged 4.04% to sell for $36.80 per share at 2:54 pm ET. The company was significantly impacted by the virus-related travel halt, prompting the shares to lose over 58% of its price from the start of the year.

Breaking the News / ND