Transaero to acquire seven 777s from SIA
15th February 2012
Alaska Airlines today announced plans to reduce its flight schedule for April and May by approximately 70% following historic and unprecedented falloff in demand related to the COVID-19 outbreak.
Flight schedules for June and beyond will be based on demand, but Alaska said it expected that reductions will be substantial for at least the next several months as it is currently experiencing demand reductions of more than 80%.
It addition it has drawn donw on a previously announcdc $400 million on our line of credit and closed an additional secured loan for $425 million today. Alaska chief executive, Brad Tilden will also take 100% paycut.
"Alaska's goal, since the onset of this outbreak, has been to keep our employees and guests safe and healthy, and to ensure that our airline is here to support and serve them in the future," said Tilden. "But we also know that given the lack of demand for air travel and profound impact on the financial management of our business, hard work and aggressive control of costs and cash are required, even with additional support."
"These actions are unprecedented, but these are truly unprecedented times," said Tilden. "Alaska has been here for 88 years to serve our customers and communities and to provide good jobs for our people. It is imperative that we act swiftly and courageously to ensure that we're here to continue our mission in the future.