PSPTruth

The US Airline Industry has been given $40bn of taxpayers’ money since March 2020 to maintain employment. So why have 77,000 airline employees lost their jobs?

[PSPTruth @PSPTruth]

$40 billion of taxpayers' money to save airline jobs, yet still almost 80,000 jobs lost. Where has the money gone? #PSPTruth #StopPSP3
@Sen_JoeManchin @SenatorSinema @SenMarkKelly @ReverendWarnock

[AntiAero @AntiAeroGAAM]

“While big airlines such as Air Canada gave $10 million in executive bonuses after receiving a $5.9 billion bailout from the Canadian government, contracted airline catering workers have been left behind” said the union https://t.co/3nXnL3feC8 #airlinebailout

[AntiAero @AntiAeroGAAM]

Massive bailout for Cathay Pacific Airways - the latest HK7.8 billion (US$1 billion) government loan is part of a HK$39 billion (almost US$5 billion) post-Covid rescue package https://t.co/ZcodGWdJRd #airlinebailout

[Dan Price @DanPriceSeattle]

How come when banks, car companies and airlines collapse they get a bailout, but when people's bank accounts collapse they get an overdraft fee?

[Senator Mazie Hirono @maziehirono]

$7.7 billion. That's how much United Airlines received in federal aid to keep workers employed.

And yet, they propose to outsource more than 2,500 jobs and give their executives millions in bonuses. Their employees deserve the same level of job security. https://t.co/3PPMesoxYK

[Steve Matthews @SteveMatthews12]

Warren Buffett says he sold U.S. airline stocks at the wrong time last year as a public service: it would have been hard for Congress to approve an enormous bailout if he was still a huge shareholder https://t.co/tU9JUBquTa via @markets

[Dan Price @DanPriceSeattle]

United Airlines
*Spent $8.4 billion (about all its profits) on dividends and stock buybacks for 5 years before pandemic
*Threatened 36,000 layoffs without a bailout. Then got $5B bailout
*Paid CEO $12.6M
*Now outsourcing 2,500 workers after they unionized
https://t.co/3ZcMiuRrLX

[PSPTruth @PSPTruth]

#PaddingShareholdersPockets

[Dan Price @DanPriceSeattle]

"i can't believe stocks are at an all-time high in a recession"

The largest 500 companies spent almost 100% of their profit on buybacks and dividends to juice the stock market in the 3 years before the pandemic.

Then they got trillions in bailouts.

The lesson: keep doing it!

[PSPTruth @PSPTruth]

@DanPriceSeattle The airlines received so much money via taxpayer bailouts that they wouldn’t even take government loans.

Free taxpayer money is so much better than cheap government loans.

[PSPTruth @PSPTruth]

Thank you taxpayers ... this is what your money’s been spent on 👇

“Without Southwest’s share of the pandemic aid and other temporary items, Southwest would have lost $1.72 per share” @WashTimes

#Aviation #Bailouts #PandemicSupport #Taxpayers

[David Slotnick @David_Slotnick]

Bailout helps Southwest become the first US airline to post a profit during the pandemic https://t.co/eiKYXR1UPM

[Farwa Sial @farwasial]

Majority of #Covid_19 stimulus went to #corporations (Not #SMEs). Evidence from 9 developing countries. @IMFNews @WorldBank

[PSPTruth @PSPTruth]

@FinTrCo Airlines around the world were assisted by their governments with low costs loans. In America, airlines received so much free money, they wouldn’t even take the loans.

Free taxpayer money is so much better than cheap government loans.

[Financial Transparency Coalition @FinTrCo]

NEW: The vast majority of Covid-19 recovery funds in developing countries in 2020 went to big corporations instead of social protections, SMEs or those working in the informal sector.

Full report here: https://t.co/8kzYO13AvO

#PeoplesRecovery

[PSPTruth @PSPTruth]

“Airlines had spent billions of dollars on stock buybacks over the prior several years, so why should investors get all the benefit of good times and then get bailed out in bad times?”
Well said @conorsen @bopinion 👏

#bailouts #cronyism https://t.co/NFx9KQ6wJP

[PSPTruth @PSPTruth]

@bopinion @conorsen “Airlines had spent billions of dollars on stock buybacks over the prior several years, so why should investors get all the benefit of good times and then get bailed out in bad times?”
Well said @conorsen 👏

[PSPTruth @PSPTruth]

@thatjohn Even if, “the risk of coming in contact with the virus dropped by 23% to 57% if airlines limited passenger loads” it wouldn’t change airlines’ behaviour.

It’s all about profit.

[PSPTruth @PSPTruth]

@petemuntean Airlines around the world were assisted by their governments with low costs loans. In America, airlines received so much free money, they wouldn’t even take the loans.

Free taxpayer money is so much better than cheap government loans. Is this Capitalism? Or Cronyism?

[PSPTruth @PSPTruth]

@thatjohn Airlines around the world were assisted by their governments with low costs loans. In America, airlines received so much free money, they wouldn’t even take the loans.

Free taxpayer money is so much better than cheap government loans. Is this Capitalism? Or Cronyism?

[PSPTruth @PSPTruth]

@BloombergAsia Airlines around the world were assisted by their governments with low costs loans. In America, airlines received so much free money, they wouldn’t even take the loans.

Free taxpayer money is so much better than cheap government loans. Is this Capitalism? Or Cronyism? #PSPTruth

[PSPTruth @PSPTruth]

@MertiumFin @markets Airlines around the world were assisted by their governments with low costs loans. In America, airlines received so much free money, they wouldn’t even take the loans.

Free taxpayer money is so much better than cheap government loans. Is this Capitalism? Or Cronyism?

[PSPTruth @PSPTruth]

Airlines around the world were assisted by their governments with low costs loans. In America, airlines received so much free money, they wouldn’t even take the loans.

Free taxpayer money is so much better than cheap government loans. Is this Capitalism? Or Cronyism?