Delta Air Lines Inc (DAL - Free Report) is planning to notify its pilots about possible furloughs by sending them notices later this week, as demand remains significantly below year-ago levels.
As the airline continues its efforts to address pilot overstaffing, it intends to send notices to 2,558 pilots, in accordance with the Worker Adjustment and Retraining Notification (WARN) Act to inform them about potential furloughs so that they are better-prepared.
Simultaneously, Delta, carrying a Zacks Rank #3 (Hold), will be offering its employees voluntary options, in order to reduce workforce. In this regard, the airline has reached an agreement with the labor union representing more than 14,000 Delta pilots, for an early-retirement program. Pilots can apply for the program early next month. By Aug 4, employees will come to know whether their requests have been accepted. About 7,900 pilots would be eligible for this early retirement option.
Per the terms of the early-retirement program, pilots would get pay for 58 hours a month, until they reach the age of 65 or for 36 months, whichever is earlier. Employees would also receive health and travel benefits for a limited period of time.
U.S. airlines such as American Airlines (AAL - Free Report) , United Airlines (UAL - Free Report) and Southwest Airlines (LUV - Free Report) have offered similar voluntary separation options to their employees in order to reduce staff strength. Each of the stocks carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We remind investors that U.S. airlines, including Delta, which have received government payroll support under the CARES Act, are prohibited from laying off or reducing salaries of employees through Sep 30.
Meanwhile, labor unions representing airline employees are seeking additional financial assistance to protect jobs through March 2021.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Delta Air Lines Inc (DAL - Free Report) is planning to notify its pilots about possible furloughs by sending them notices later this week, as demand remains significantly below year-ago levels.
As the airline continues its efforts to address pilot overstaffing, it intends to send notices to 2,558 pilots, in accordance with the Worker Adjustment and Retraining Notification (WARN) Act to inform them about potential furloughs so that they are better-prepared.
Simultaneously, Delta, carrying a Zacks Rank #3 (Hold), will be offering its employees voluntary options, in order to reduce workforce. In this regard, the airline has reached an agreement with the labor union representing more than 14,000 Delta pilots, for an early-retirement program. Pilots can apply for the program early next month. By Aug 4, employees will come to know whether their requests have been accepted. About 7,900 pilots would be eligible for this early retirement option.
Per the terms of the early-retirement program, pilots would get pay for 58 hours a month, until they reach the age of 65 or for 36 months, whichever is earlier. Employees would also receive health and travel benefits for a limited period of time.
U.S. airlines such as American Airlines (AAL - Free Report) , United Airlines (UAL - Free Report) and Southwest Airlines (LUV - Free Report) have offered similar voluntary separation options to their employees in order to reduce staff strength. Each of the stocks carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We remind investors that U.S. airlines, including Delta, which have received government payroll support under the CARES Act, are prohibited from laying off or reducing salaries of employees through Sep 30.
Meanwhile, labor unions representing airline employees are seeking additional financial assistance to protect jobs through March 2021.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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