Unions are pushing Atlanta-based Delta Air Lines and other carriers to hold off on stock buybacks that would reward shareholders, saying carriers should first restore staffing to avoid operational meltdowns and complete labor contract talks.
Airlines that accepted federal coronavirus relief funding from the CARES Act were temporarily banned under that law from buying back stock to boost their share prices. But the restriction is set to end Sept. 30.
Now, a coalition of unions representing flight attendants, pilots and other workers is pushing airlines to pledge to halt stock buybacks beyond that period if they have not stabilized their operations.
