UAL - Job cuts closer for airlines with government restrictions due to expire

U.S. airlines are expected to announce layoffs as early as tomorrow unless a new federal relief package is passed. Carriers could announce the cuts even if talks suddenly progress as they look to reduce their monthly cash burn amid low demand for business travel.The cuts could numbers in the tens of thousands to add to the more than 150K employees that have already left through early retirement packages or temporary leaves.Treasury Secretary Steven Mnuchin is reportedly in direct communication with airline CEOs to try to hold them off.Analysts say investors are more likely to return to airline stocks when the monthly cash burn rates drastically improve. Sector watch: American Airlines (AAL), Delta Airlines (DAL), Southwest Airlines (LUV), United Airlines (UAL), JetBlue (JBLU), Hawaiian Holdings (HA), Alaska Air Group (ALK), Allegiant Travel (ALGT), Spirit Airlines (SAVE), Mesa Airlines (MESA) and SkyWest (SKYW).Compare airline stocks side by side.

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Job cuts closer for airlines with government restrictions due to expire