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COVID-19: Air Canada to temporarily lay off half its workforce

Air Canada said it is drawing down about $1 billion in credit to bolster liquidity while senior executives will forgo between 25%-50% of their salary

twitter-logoReuters | March 31, 2020 | Updated 11:05 IST
COVID-19: Air Canada to temporarily lay off half its workforce

Air Canada said on Monday it will cut second quarter capacity by 85%-90%, place about 15,200 unionized employees off duty and furlough about 1,300 managers as the coronavirus pandemic takes a toll on global travel and aviation.

The airline said it is drawing down about $1 billion in credit to bolster liquidity while senior executives will forgo between 25%-50% of their salary and board members agreed to a 25% cut.

Also read: Coronavirus in India Live Updates: West Bengal reports another death; 3rd casualty in the state

Also read: Coronavirus impact: Vistara or AirAsia India? Tata Group must pick one as losses mount

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