Posted on 04/21/2009 4:26:35 PM PDT by STARWISE
Mayor Daley is urging President Obama to bail out an airline industry that has “weathered one extraordinary challenge after another” since the terrorist attacks of Sept. 11, 2001.
In an April 10 letter to the president, Daley referred to the “precarious state of our nation’s airports and airlines” and argued that the airline industry is every bit as deserving of a federal bailout as the banking, insurance and auto industries.
“In contrast to the hundreds of billions of taxpayers’ dollars directed to the banking and insurance industries during the past few months and the tens of billions funneled into two motor vehicle companies, federal support of the essential aviation system has been minute,” Daley wrote.
The mayor noted that 390,000 Americans were employed by major U.S. airlines at the start of this year, 20,000 fewer than a year ago. And those lucky enough to avoid the budget ax have seen their wages, hours and benefits cut, he said, adding, “They have sacrificed and they have delivered.”
Daley warned that the “hard times are not over” for an airline industry that has already survived a “precipitous drop” in air travel, stepped up security, “record-high” fuel costs and bankruptcy for some major carriers.
“Federal investments would have helped the airlines and their employees through these challenging times, dramatically improved operations efficiency and supported the difficult actions the airlines and their employees have taken to keep their industry moving forward,” he said.
“Our domestic airlines provide service to 750 million people each year and move nearly 40 billion cargo revenue ton miles on passenger aircraft and freighter airlines. This is an industry that we, in this global marketplace, should not take for granted.”
Earlier this week, Daley’s $2.5 billion plan to privatize Midway Airport died for lack of financing.
The worldwide credit crisis was largely to blame, but the drop-off in air travel didn’t help. January traffic at the Southwest Side airport was down 12 percent from a year ago, records show.
~~PING
Welcome to the Chithole of Chicago Politics America.
Jack up the prices... if someone complains... tell them to take a bus. There is nothing in the Constitution that gives you the right to fly the friendly skies...
The more regulated the industry, the more likely it is to be a target of the Obama administration and, ultimately, nationalization.
No bailouts for anything. Fund FDIC and thats it.
The corporate traffic in their was a boon to the nation not just city.........if daley is for this he's getting a kick back.
Like every other industry, if the Dems had not bankrupted them in the first place, we would not need to bail them out with taxpayer money.
Does anyone re-think ridiculous Union contracts that KILL their industries? Nope, old Eddie and Mildred will get $100,000 a year for life and a zero deductable private health plan...just like public employees, who raise taxes on working people to pay their cradle-to-grave bennies...
Bailouts for newspapers, airlines, banks, auto makers...
Stop already, you maggot Union losers!
TEXAS4EVER URGING PRESIDENT OBAMA TO BAIL OUT NURSES!!!!
They have now merged and are on the verge of becoming the largest airline in the world!
No government funds required.
They have now merged and are on the verge of becoming the largest airline in the world!
No government funds required. "
I can tell you're a fan of the new merged airline. Nothing wrong with that, except no airline that I'm aware of has had a bailout or government guaranteed loan since shortly after 911.
ALL of the airlines are once again losing tons of money.
Back then, I'm sure both Delta and Northwest took bailout money.
If you really want to crow about an airline, you should be proud of American Airlines, who never went into bankruptcy stiffing their creditors (or making their stock worthless), and AA only took loans from the government. No grants like the others. ;-)
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