CHICAGO (CBS) — United’s executive chairman says the U.S. airline industry needs to shrink to survive.
Oscar Munoz thinks airlines have to cut labor costs by as much as 50% to stay in the air, but that doesn’t necessarily mean cutting half of current workers.READ MORE: Simeon High School Student Jamari Williams Shot And Killed Blocks From School; Classmate Wounded In Separate Shooting In Hyde Park
“I think a lot of us are working ways of working in ways where a simple example, a job share program, where you and I would share this job,” Munoz said. “And there’s one salary versus two for a period of time. So, the payroll costs will have to be down so it’s not necessarily losing people.”READ MORE: Naperville North High School Postpones Start Of School Day Due To Threat
Munoz recently stepped down as United’s CEO. He thinks business travel won’t recover until there is a vaccine.MORE NEWS: Rev. Jesse Jackson To Be Released From Rehab, Family Says He And Wife Are Now COVID-Free