United Airlines CEO Oscar Munoz is telling top lawmakers that the economic impact of the coronavirus pandemic on his industry is “much worse” than that experienced from the 9/11 terrorist attacks.
“We unequivocally support prudent steps like these to keep the American people safe. But, these actions have also created a fast-moving, financial crisis unlike anything the U.S. airline industry has faced before,” Munoz wrote in a letter first obtained by Politico.
“In fact, the financial impact of this crisis on our industry is much worse than the stark downturn that we saw in the aftermath of the 9/11 attacks,” he continued.
United’s top executive also noted that March is normally the airline’s busiest month, but the company has so far flown 1 million fewer customers than usual. Munoz added that revenue projections for this month are $1.5 billion below March 2019 due to the significant drop in customers.
Many airlines like United have slashed their number of flights and restricted air travel in general, as the spread of the virus has continued worldwide.
“On behalf of the nearly 100,000 airline professionals at United Airlines, we — the leaders of the company’s management and organized labor unions — have a simple message: please act quickly – this week – to protect our livelihoods,” Munoz said in the letter.
It was sent to Treasury Secretary Steven Mnuchin, Speaker Nancy Pelosi (D-Calif.), House Minority Leader Kevin McCarthy (R-Calif.), Senate Majority Leader Mitch McConnell (R-Ky.) and Senate Minority Leader Charles Schumer (D-N.Y.).
On Tuesday, Mnuchin met with Senate GOP members to discuss the details on the Trump administration’s third legislative aid package aimed at combating the economic fallout from the virus.