one of the other airlines in 0scar‘s sights is ryanair, the biggest budget airline in europe.here who are trying to make money on the back of airlines. all that's going to happen to the customer is, they will wait just as long and they won't get the full refund, because these claims harvesters will take a piece for themselves. so, why‘s it proving so difficult to give customers their money back? it's volume. we have in excess of 20 million passengers to deal with. we're working our way through that. we are in excess of 750 million euros now of vouchers, cash refunds or flight changes. but the important issue is everybody who wants their money back will get it back. it isjust taking some time. the head of the aviation trade association, iata, goes further, saying that delaying passenger refunds is vital for the industry's cash flow. it's a matter of survival for us, and the cash position, the cash crisis that we are facing is probably the most urgent and the most difficult part of our situation currently, so we are conscious of, how can i qualify, the help we are asking passeng

one of the other airlines in oscar's sights is ryanair, the biggest budget airline in europe.ho are trying to make money on the back of airlines. all that's going to happen to the customer is, they will wait just as long and they won't get the full refund, because these claims harvesters will take a piece for themselves. so, why‘s it proving so difficult to give customers their money back? it's volume. we have in excess of 20 million passengers to deal with. we're working our way through that. we are in excess of 750 million euros now of vouchers, cash refunds or flight changes. but the important issue is everybody who wants their money back will get it back. it isjust taking some time. the head of the aviation trade association iata goes further, saying that delaying passenger refunds is vital for the industry's cash flow. it's a matter of survival for us, and the cash position, the cash crisis that we are facing is probably the most urgent and the most difficult part of our situation currently, so we are conscious of, how can i qualify, the help we are asking passengers for.

one of the other airlines in oscar's sights is ryanair, the biggest budget airline in europe.ut there who are trying to make money on the back of airlines. all that's going to happen to the customer is, they will wait just as long and they won't get the full refund, because these claims harvesters will take a piece for themselves. so why is it proving so difficult to give customers their money back? it's value. we have in excess of 20 million passengers to deal with. we are working our way through that. we are, in excess of 750 million euros now of vouchers, cash refunds, or flight changes. but the important issue is, everybody who wants their money back will get it back. it is just taking some time. the head of the aviation trade association, iata, goes further, saying that delaying passenger refunds is vital for the industry's cash flow. it is a matter of survival for us, and the cash position, the cash crisis, that we are facing is probably the most urgent and the most difficult part of our situation currently, so we are conscious of, how can i qualify, the help we are aski

crisis is affecting all airlines.hallenge now is everybody in this industry is operating under a set of assumptions that nobody knows for sure. there is a lot of difficulty in predicting the changes in consumer behavior. shared lockdowns ease there is a love -- even as lockdowns ease. there is a lot of uncertainty. >> are you saying that the theible merger between airlines is ou off the table? >> the main issue at this point in time -- every airline is more focused on fixing its problems. -- the industry in general will go through a phase of either cooperation or alliances. [indiscernible] i think that is the future of industry. we will see a lot more alliances. it is something we see in other industries. like the health industry in malaysia. it makes sense sometimes. >> what support have you been giving malaysia airlines to ohether the pandemic -- tw weather the pandemic? >> i this point, we are -- at this point, we are urging them to do a full review. like i said, i think it is a difficult time for all airlines in g

weighs in 3rd place among the european low cost airlines wants to cut a 5th of its workforce. for ryanair bosses see the key to survival is cost cutting along supply chains and white bread mask wearing and hand hygiene on its flights but even those are no protection against a bumpy road ahead. on this let's bring in our financial correspondent chelsea delaney she's joining us from frankfurt chelsea we know it's a tough time for the airline industry in general but how's ryanair been fairing in comparison with other carriers. well as we heard in that report they they also are being absolutely devastated by the pandemic they have seen. travel basically all but stop on their on their flights so they are being impacted and they certainly have a lot of a lot of uncertainties ahead of them given the continued growth of infections throughout the world but they have been doing slightly better than than most other airlines especially here in europe like a lot of the airlines like air france that they didn't have a they didn't have to seek a bailout they they still are quite solvent they

welcome back after what has been a dismal year for airline companies u.s. aerospace giant boeing is inching closer to getting its 737 max jets recertified by the f.a.a. in fact the federal aviation administration has announced that is providing a 45 day public comment period before any recertify cation can take place so this is another hurdle for boeing or does it signal that the company may soon get the green light to begin selling at $737.00 max once again and where does the airline industry stand as a new round of lockdowns is continuing what was already a very very tough situation joining us now to discuss his boom bust co-host and investigative journalist ben swan and dennis pager communications committee chairman at the allied pilots association thank you both for joining us today but i want to actually start with you let's begin with the latest on boeing is this good or bad news. well i think it kind of depends on how you look at it look at anything anything the market perceives as bad news is going to be bad news for boeing in terms of stock price b

well to top airlines in the u.s. american airlines and southwest say they'll likely scale back their plans to roll out more flight routes in august and september as the number of coping 1000 cases in the country grows the news is yet another blow to an airline industry in desperate need of increasing its flight numbers. july is usually high season and london's gatwick airport to be crowded with vacationers eager to fly to spanish and italian beaches but in the midst of the pandemic there are just a few tourists here. yeah it does you actually we wait to see this i could be anyone here but if i can and lead them on the way i want to look to toss anything it is just a bit confusing and scary. in june only 11000 passengers pass through britain 2nd busiest airport after heathrow a year earlier there were over 2000000 passengers here many are afraid of flying during the pandemic e.u. transport ministers want to minimize the risk of infection and have agreed to require passengers age 6 and above to wear a mask another key

demand and quiddity and right now all of the airlines u.s. carriers have enough to quit eating get through this. assuming it has a normal path to a vaccine american spoke to that united previously and everyone is expecting about a 50 percent of revenues here in the near term until we get their next enough vaccine it's the holy grail of ok now we've got our hands on a split in the interim in american soccer is happening with an increase in domestic traffic that hasn't gone on the shelf it is actually plateaued we've got to ensure that our passengers are competent to be on an airplane and it is with the mass the air circular. the cleaning. i would be on with my family who is trying to run my suit was and it is safe to be on the airplane now we just have to get those places that you go to open responsibly i think we all learned a lesson that if you rush to comply and rush to get back to normal this virus is just waiting to bite you and we can't allow a rant now and we've learned our lesson and i think for those who are doubting now and absolutel

are jumping on board at least the major airlines southwest airlines. they're taking it one step further than say some of the other airlines. they don't care. if you have a suppose it medical condition that you make an excuse why you can't wear a mask, they say they will they will miss you, but please come back after the pandemic because they want to make sure that their employees and their passengers are safe, let's face it, the airlines are taking a beating ever since the pandemic started so they're doing all that they can to woo back the flying public american airlines. they will do it 2 days from now not exactly sure if they are as strict as southwest airlines. but they're telling people put on a mask as soon as you get to the airport. obviously when you get to the ticket counter. and when you hop on the plane of course you can take off your mask when you're eating and drinking but they will monitor the situation meaning you can't take advantage of that and then you're done eating and you sit there for the next 30 to maybe an hour or 2. without your

which of the airlines are exposed to that?look at my schedule, i was scheduled to be in asia this spring i cancelled that i don't see myself going back to asia for quite a bit of time is that a permanent change and how does that impact your view on some of the bigger airlines >> it does impact how we model we think that domestic trends will lead to recovery. we can envision plausibly that the domestic environment gets back to 2019 level sometime in 2022 i think you hit the nail on the head i think international, there ar lots of regulatory impediments we think international can take until 2024 to recover back to 2019 levels. the aggregate of our view is that the u.s. industry from a profit output perspective won't be able to rival 2019's level until sometime around 2023 we do expect all domestic names like southwest and alaska to lead the way, to get there first. >> it's karen. let me ask you something if we sort of look out to maybe 2022 where the airlines are approaching 2019, it looks to me like the enterprise values are st

of course, i think our advice would be to check with individual airlines, and airlines will pay refundso check with carriers. they are trying to be flexible to allow delays and making alternative arrangements for that it is incredible difficult for airlines at the moment. this is unprecedented, months of almost no revenue and a huge amount of people making enquiries, so it is a challenging time for everybody. some airlines did not go for the government a further option. they raised the money themselves, but how close are we to losing other airlines completely if this stops, this stop start stop start plan continues like this with no idea of how consistent this is going to be? yes, it is a credibly challenging, and we have been consistent in our view that whilst things like the furlough scheme and other support have been really helpful, the sector is going to need additional support over the course of the coming months. we are heading towards winter, and historically it is a difficult time for airlines anyway, and under the circumstances here, the end of the summer period which is the bi

that go point to point would fare better a little bit more local airlines as opposed to airlines thatrate on a hub and spoke model, where you have to transfer there might be more friction involved in going to the airport and getting to the final destination. you say that's not true. so is a price war going to sort of eliminate that? >> well, i think that there's certainly some truth to what you're saying. there are savings and operating costs there, but i don't think the shift down in pricings fully appreciate it for some of the lower cost airlines. yeah so just to give you an idea, in may, i think, the bureau of labor statistics showed that air fares for the u.s. were down around 29% year-over-year. even as we got into june and you saw leisure demand -- leisure travel start to recover, the pricing was down 27% year over year that's about 30% worse than the consumer price index general i think what you look at what it does to operating earnings, even if you're hub and spoke, you add on how much more interest costs and put in here and the share count delusion from the big equity races

over coming up europe's biggest airline post future. passenger numbers dropped $99.00 per stands. by the local economy faltering investors. sending the price of gold to an all time high. ferguson welcome to the so we begin in the united states for republican lawmakers have just presented their plan for a 2nd round of stimulus measures aimed at protecting the economy from the impact of the coronavirus the new proposal unemployment a relief and a direct payment of $1200.00 to individual americans with the current package due to expire on friday for americans struggling to make ends meet the help cannot come soon enough. another day another stack of bills waiting to be paid. for are this just really. coming. or power. you know this is. sick. or. brown is one of over 4000000 americans who contract it coded 19 she survived the disease but her treatment required a medically induced coma nearly a month in the hospital and 3 separate blood transfusions procedures that have left her family of 4 struggling to make rent. on time is running for more than 20000000 americans who depend on the g

are a drone is europe's biggest airline parking lot and the signs point to many more needing space here and if in the end no one wants to put them back into service they can be scrapped here as well. is also a potential aircraft graveyard. to africa where many people rely on remittances from family and friends working abroad and here the consequences of a pandemic are especially grave our next report takes us to somalia where the lockdown this making life hard for everyone from airline workers to took to drive us. once upon a time took took drivers in the somali capital mogadishu could make a pretty decent living after all in normal times people were always looking to get from a to b. . when the corona virus hit in mid march everything changed. before the corona virus i used to earn a good a maint $25.00 to $30.00 u.s. dollars a day but now teachers and students are no longer going to school and airline workers have been sent home because the airport is closed you know that with. the pandemic is laying siege to what was a ready a highly fragile economy where violence has left hundreds o

coming out here if because the airline post huge law. passenger numbers dropped 99 per cent. of the global economy faltering investors. sending the price of gold all time high . ferguson welcome to the so we begin in the united states where republican lawmakers have just presented their plan for a 2nd round of stimulus measures aimed at protecting the economy from the impact of the coronavirus the new proposals include unemployment a relief and a direct payment of $1200.00 to individual americans with the current package due to expire on friday for americans struggling to make ends meet the help cannot come soon enough. another day. another stack of bills waiting to be paid. medical bills are this just really. coming to. light you know this is where i was sick. pay this bill because. there were. brown is one of over $4000000.00 americans who contract it covered 19 she survived the disease but her treatment required a medically induced coma nearly a month in the hospital and 3 separate blood transfusions procedures that have left her family of 4 struggling to make rent. on tim

airlines for sure. i think you have a case here where we at least have a little bit more insight people zroedon't have to get bao cruise lines they have to get back on airlines. >> president trump announcing he is cancelling the republican convention in jacksonville, florida, saying the timing of this event is just not right they had already decided to hold much of the event if not all of it outdoors in order to address the surging cases of coronavirus that the state is seeing president trump said that it will continue in some other form, but for now the republican convention in jacksonville is off. >>> coming up, we are celebrating christmas in july here on "fast money. we break down the recent moves in silver and gold those trades next. hey frank, our worker's comp insurance is expiring, should we just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent

mask rules are being tightened up on airlines. tell us who's mandating what right now. >> yeah, that was definitely the week of the masks. not only the president was talking about it, but it's really hitting the travel industry hard. so what happened this week is that the airlines cracked down on mask usage on planes. now, before they had asked people nicely to wear masks, they had suggested it, but they didn't mandate it. what happened this week is they've all pretty much come out and mandated it and said there are no exceptions. so on delta, for example, if you don't want to wear a mask and you say you have a medical condition, then delta makes you have an interview with a doctor to make sure you're telling the truth. another airline, southwest, has come out and said there are no exceptions anymore. if you don't want to fly with a mask on, don't fly southwest arlines. they're coming down really, really hard on this. i think that's a good thing. we did write about a woman flying american airlines who refused to wear a mask and wa

you have to own the airlines today, but airlines have historically been great trading stocks and also great longer term investments on rerating until you get clarity on the balance sheet, you don't have to own airlines here, but i think you could be an owner of delta air lines longer term, who at least at the current tra jekts trajectory is not taking government money. >> it's about getting that cash burned down. delta ceo said by tend of the year he hopes to get it to zero which is a vast improvement from the 40-50 billion just kapel mont mon a couple months ago. it's all about having enough money to get to the other side. >> by the way, i heard from adele's people yesterday. >> what did she say? >> i eviscerated her and her talents but they asked if she could come on the show at some point. i said we can't speak for the entire "fast money," but we'd love to have her we're waiting to book adele. >> all right adele, come on you've got a burning trading question, we'll answer it. >> of course we will few people had notes out yesterday on delta goldman sachs was one of them. they said d

focus for the airlines is all about daily cash burn. they are bringing it down as quickly as possible. they are long ways from where they are in april. they are burning through a lot of cash every day. these are figures at the end of june united at 40%. southwest at 20 million. we'll get an update and see if it's come down any further in july passenger levels, as you look at the airline index, still down 72 to 75% the numbers yesterday, down 75%. it's really started to plateau >> phil, stick around. let's diver a little deeper into the struggling airline industry. see if investors should expect more pain ahead on these beaten down stocks. hunter, is there any differenttiation do you think it's all going to rise and fall with covid >> thanks for having me. at this point there's so much money, liquidity available to these airlines the balance sheet stuff is taking a backseat to the other fundamentals there's so many stocks that have zero equity values as far as i can tell there's still four or five billion dollar market cap because the ma

at&t, travelers, american airlines and southwest airlines all in the next 60 minutes keep it here you are tuned to "squawk box." even if their shares cost more. at $5 a slice, you could own ten companies for $50 instead of paying thousands. all commission free online. schwab stock slices: an easy way to start investing or to give the gift of stock ownership. schwab. own your tomorrow. schwab. save without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you only have to pay for the data you need, starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. 5g is now included with all new data options. switch and save hundreds. xfinity mobile. >>> welcome back to "squawk box. yesterday, slack accused microsoft by forcing users to install teams because it is bundled. blocking the usage and making it inoperable with other software >> there is a perpetual question that at some point, microsoft

could actually affect the airlines flights to the u.k. and also canada since the aircrafts are not going to be able to fly over europe which will then force longer routes and forcing longer flight times mela. thank you for that update. now over to the latest koeppen 800 numbers worldwide cases now topping 10400000 and about 502-7000 reported deaths the top 3 countries the u.s. still leading the way and brazil and russia follow that here in the u.s. about 2600000 cases with about 126000 reported deaths meantime more states are reversed saying they're reopening orders as coach at 19 continues to skyrocket in the push for the public to wear masks is being heard at local state and federal leaders now here's our correspondent john hardy with that update. as june comes to an end really the question is how bad will july be and afternoon is any indicator and any looking good isn't the governor of arizona shut down bars movie theaters germs and water parks once again while the leaders of several states seeing major increases in the cove in 1000 vi

>>southwest airlines. they did guarantee that they will not have anybody in the center seat at least until this fall they didn't rule that out, but we know that united airlines and american airlines and american being the largest carrier in the world they actually started this about a month ago. some people were not happy about this, but they say if it must be done then of course then you have to wear your mask or should wear your mask and the reason why they're doing this and they're getting people by the way the right if you're flying marty and you know you're the center seat united is giving you the option, i'm not sitting in the center seat and taking another flight. but the problem is they don't have as many flights as they used to say i don't have that many options on the board to choose so marty you'll have to squeeze in there and wear your mask, yeah talk about being between a rock and a hard place. thanks a lot. we'll will tran reporting for us from sfo. >>well college students across the country

you are out with a new list ranking airlines, and a big factor is how those airlines are responding to the ongoing pandemic. >> yeah, that's right. we attempted to come up with a list that would quantify how the airlines have responded, look at things like cleaning procedures, and, of course, 0 how they have treated their loyal members throughout this outbreak. >> okay. so how did they do? >> well, the top spot went to delta airlines. they've done a number of things to kind of stand above the risk. rigorous cleaning procedures. they were the first airline to extend medallion have committed to continuing blocking meddle seats through at least september of 2020. >> so let's talk about those that are sort of in the middle of head to road here. >> the two big ones in the middle were american and united. they were hurt by a couple of things. they have stopped blocking middle seats, and within the last several weeks they've started fill their planes to capacity. so that really hurt their score in the onboard experience category. united was hurt by a couple of never changes they made during t

i guess, how long can airlines survive?have seen so much help from governments all around the world for their airlines. how long can they make it? mark: i think one of the best questions we have had is, have airlines raised enough through the government funding? and are the balance sheets deemed to be good balance sheets, they have enough to get through a second wave? i think the problem is that uncertainty reads content. fear is equating to a stay cation. you want to be with the low-cost names here from a balance sheet perspective and growth perspective. ryanair is at the forefront of that. on the other set of the equation there are names looking to raise capital with their 1918 architecture. ,'m both sides of the equation people are going to be wondering, do i need to own airlines at all? i can't deny the sciences is what is driving all of this. you step away from the madness of thinking about airline profitability and say to yourself, there was a bigger story going on here that -- then worrying about airline profits. if

airlines. that moneyrob cuts through the of september. whileorkers endure these painful changes, to choose from going forward. >> if the airlines start to thousands of jobs, you and i will not notice it when we're on planes. all of the airlines will have the same number of pilots, the same number of flight attendants on each individual flights. because there are fewer flights, they need fewer flights, fewer flight attendants and fewer people overall. >> that was jo ling kent reporting. united says 36,000 furloughs is the worst-case scenario. other parts of the airline industry are feeling the fall like playmaker airbus some said they received no new orders in june putting even more jobs on the line. >> that's hard to hear. more california universities are joining in the fight against i.c.e., immigrations customs and enforcement to protect international students. they are trying to ensure international students don't lose their visas. i.c.e. announced a policy saying students doing virtual learning only cannot remain in the u.s. san diego'

crandall at united airlines dealing with that. drive forward the conversation with gary kelly in the 10:00 hour. stocks are down 40% from the pandemic. mr. kelly has his hands full. here is ritika gupta. gonea: the world has now over 15 million coronavirus cases. the u.s., brazil, and india account for more than half of infections. governor ron desantis and florida says schools may delay reopening if they need time to protect from the virus. boris johnson's government had no economic planning for the pandemic according to the house. the coronavirus was "rushed and reactive," despite it being identified as a top risk. the chinese consulate in houston has -- they-line have allowed a small group to meet with mike pompeo. china has a history of espionage and intellectual property theft, according to the president. the president mocked joe biden fundraiserscampaign from his basement, but he is laughing all to the bank. the president took in less than one third of that from his donors. he declined to appear on livestream events. he held

but, you know, some other airlines are thinking about it differently and just have said, you know, weevery dollar we can get we don't think it's going to be worth flying that much so we are going to really hunker down i think it remains to be seen, especially with the demand today looking different than it did in may when they made the plans, you know, whether this will have paid off >> they have a lot of debt, too. they have more debt than any competitors. they spent more on new planes, $23 billion than what delta ended the quarter in in debt that is just staggering to think about in that perspective. in terms of the cash burden and ability to operate, i mean, how long do they have? >> american's ceo said they raised enough money, you know, by the time they get the government loan finalized, they'll have war chest of $15 billion. when he told me when i asked is that they think even if things don't get better they can keep going on like this for, you know, into next year, maybe a year and at that point maybe raise more money but, yeah, that is sort of a big question that debt is an is

>> and, pete, american airlines is largest american airliner.ther government bailout. is that basically an admission that american airlines is on life support? >> reporter: really all airlines are hurting for cash and passengers pap bit of a deeper picture into what american airlines is going through because of the letter from american ceo doug parker sent to all of american's employees saying the financial situation is improving, doing everything that the airline can do, to avoid layoffs and furloughs. a new $4.7 billion loan coming from the federal government. flights about 63% full compared to only 15% back in april. even in spite of all of this, american says it will have 20,000, too many employees, come this fall. it cannot furlough anyone can not lay anybody off, because of restrictions tacked on to a federal bailout, but those restrictions expire october 1st. jake? >> all right. pete muntean, thank you so much. >>> looking for a safe way to celebrate the fourth of july this sand night? stay with us, cnn's don lemon and dana bash, hosting

now the decision has outraged green groups which say the airline carbon reduction scheme was already weak to begin with. has been following the story for us good to see you so what is behind this decision at a given alliance a break well air travel has already reduced by hof this year compared to last year according to some estimates now one of these regulations due to be introduced by the un aviation watchdog airlines were supposed to start paying for their offsets for their carbon emissions starting next year now of course it's been a very unusual year so the united nations has decided to change the way it calculates the level from which they are going to have to reduce those carbon emissions instead of calculating them based on this year and last year they're only going to use 2900 numbers instead and that means airlines are effectively allowed to emit more now some might say fair enough this is a very strange year and why count these numbers are green groups say that this particular carbon reduction scheme already gave airlines a free pass for several years they say we should hav

that was on the low end of guidance the airline provided. for the third quarter, and this is new guidance, it's going to be an average of $25 million a day. that is the company's guidance at this point. previously it was expecting daily cash burn at 30 million. that's an improvement of about $5 million a day in terms of daily cash burn. the other metric we're focusing on, liquid dity. cash is king and it's about having enough to ride it out at the end of the third quarter united expects to have over $18 billion. that includes a loan from the treasury department for $4.5 billion that united has not tapped but likely will tap all the airlines have this secondary loan from the treasury department that's been approved but many of them have not tapped it they have until the end of september to make that decision. we'll be talking with united ceo scott kirby exclusively on "squawk box. are the airlines strictly a vaccination play right now in other words, people aren't going to fly in big numbers and traffic is not going to come back until we get

we are kicking things off with the airlines. >> reporter: the airline stocks are mixed, before finishing the day higher, the reason, investors are trying to determine if you look at the glass half full or half empty. half full perspective is this was relatively strong weekend, the best weekend for the airlines in terms of total number of passengers since mid-march. they were getting above 700,000 three of the four days this comes at a time when you look at shares of american, adding 1600 flights a day in july as they ramp up what they believe should be a busy summer, relatively busy compared to april. delta adding 1,000 flights in the move july. another 1,000 a day in august. then things slow down in september and october. then you have united which is also in the process of adding flights this summer they said left week they're starting to see demand flatten out. that's glass half empty part when i talk to people in the airline industry everybody says the same thing, cancellations are up as covid-19 cases spread. people say i'm not going to a particular destination if there's going to b

privately owned mahan airlines has been under u.s.or years accused of providing financial, material and technological support to the iranian quds force which includes hezbollah. >> accusations that aircraft in that airline are used to carry logistic support for iranian backed forces in the region. so that might well have been one the u.s.asons why decided to take a closer look at the aircraft. the reporter: u.s. troops are in the area near syria's border near iraq and jordan. the base was established to fight iso-in 2016. it has since become an outpost to combat iran's expansion in the region as it is on a supply route linking tehran to beirut, the passage through syria. >> the message is that this corridor is basically a no-goes zone for the iranians for any airplane or any other presence in the region. reporter: of the incident could have been an unfortunate encounter but many believe it was a message. the fact that it comes at a time of heightened tensions between iran and the united states in the region caused concern. there have

airlines are now warning of big layoffs when congressional aid ends this fall. here's cbs's kris van cleave. >> reporter: for susannah carr becoming a united airlines flight attendant was a dream come true. six years later she is among nearly 36,000 united employees facing a possible furlough in october. facing a pos >> i actually was finishing working a flight, we landed to that email, that was a big shock. >> reporter: what was that moment like when you were reading that email? >> it was a punch to the stomach. >> reporter: passenger traffic is down about 80%, costing airlines roughly 6 billion this month alone. icw american airlines says it could furlough 25,000, roughly 29% of its main line workforce. more than 17,000 delta employees have taken exit packages, but the airline is still over- staffed including roughly 2,500 excess pilots. southwest c.e.o. gary kelley told employees monday if passenger traffic doesn't triple by the end of the year, he cannot rule out the airline's first ever layoffs, j.p. morgan chase analyst. do you expect to see layoffs? >> we

southwest airlines today on wednesday american airlines would do the same thing they're having a maskpolicy as well. though looking at it i don't see that there are as stringent as southwest airlines are not saying if you have a medical condition that you will not be allowed on to the plane. so you might want to check american airlines before you get to the airport. but the bottom line is the airlines they are trying their very best to get customers back a lot of customers robin marty they still feel unsafe about hopping onto the planes and they're doing all that they can to get business back which of course we know it's not even close to what it was prepandemic you can clearly see the counter behind me, everybody has their masks, including me. it is the new norm moving forward southwest airlines by the way they're not putting people in the center seat just yet they're not saying that it's a policy for them that they won't do that we do know that united and american airlines already putting people and the center seat back to you all right take those mass with you thank you all thank y

it is a very expensive, punitive way to finance the airline. if demand doesn't come back in the fourth quarter or goes away like it did in the second quarter as the virus comes back or does not, i think that is really going to be the inflection point. jonathan: joseph, thank you. , stifelenardi there nicolaus analyst. before the bell tomorrow, we will get numbers from american airlines. the mission to survive was the mission in q2, and arguably into q3 and q4. that is the objective for many of these companies. tom: the money question here is a vector of the airlines as really a non-industry until about 10 years ago. frankly, the vectors have been very good over the last 10 years of responsible industry. to get off the map now, what do they go back to, that responsible industry, or once again and did three of chaos -- one to second -- or once again an industry of chaos? jonathan: they have been subsidizing the airplanes, especially transatlantic. they've got to start to make changes. tom: bring back the 747. jonathan: you want to start flying? t

graph from that airliner used very logistic support for running back forces in the region so that may well have been one of the reasons why the u.s. side are taking a close look at. u.s. troops are in the area near syria's borders with iraq in jordan the base was 1st established to fight i sold in 2016 it has since become an outpost to counter iran's expansion in the region as its on a supply route linking to iran to be route that passes through syria the message as a start this or igor's basically a no go zone for the. weather also you know whether any other person's reach the end for them could have been an unfortunate encounter but many believe it was a message the fact that it came at a time of heightened tensions between iran and the united states in the region caused concern that there have been numerous locations that risk an all out conflict. so far to iran in washington have avoided all out confrontation this latest incident in the sky is a reminder that the potential for an escalation is real. russia has hit back at u.s. and u.k. criticism for launching what they describe as

can fly airlines can't have passengers if airlines can't have passengers airlines could be in a lot of trouble or some of these are large jaimie going to be going under. you know that's the 64 that was your question i mean. is yet to be seen. a lot of them the major carriers a lot of them of already consolidated quite a bit and some of the smaller carriers like spread spirit or some of the frontier or some of those are the budget carriers will see how they survive but the legacy carriers like american united delta. they're cutting back i mean they're literally losing millions of dollars per day. and so they're they're cutting services they're . cutting growth other they're using and. come october 1st they're going to start cutting a lot of people wow let me ask you a question since you work for an agency who is expertise is risk right now in the e.u. and most of the countries in europe are banning americans we learned now hong kong hong kong. as an entity is all but banning americans. should we understand why they're doing this maybe the way to ask you this question is jamie can we