Lawmakers, unions press U.S. airlines to hold off on stock buybacks

Sept 28 (Reuters) – Labor unions and some U.S. lawmakers are pressing airlines not to resume stock buybacks after a COVID assistance prohibition expires this week.Representative Peter DeFazio, a Democrat who chairs the House Transportation and Infrastructure Committee, is holding a hearing on Thursday on investing in transportation workers that will discuss the issue.DeFazio is circulating a letter to colleagues seen by Reuters that urges airlines to “refrain from initiating stock buybacks … at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to …
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