Would sabre be able to get any part of the bailout money created specifically for airlines and travel industry? If so they would not be able to layoff anyone till September correct?
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Sabre does not want to take government help so it can layoff people, buy back its own stock to make executives and shareholders happy. It would be better for average the employees to take government help
https://www.thecompanydime.com/sabre-government-loan-bailout-cares/
there is a bucket for us to apply to.
Its not the same bucket as the airlines.
However, Sabre is trying to do everything they can to utilize private money instead.
The reasons stated have been because they dont want to give the gov an equity stake.
- however, my belief is that they dont want to adhere to the other controls mentioned in the agreement.
- like limiting comp to 3 million
- or yes not being able to adjust staff at their whims
That money is for the airlines to keep their employees employed not Sabre. If people aren't traveling then Sabre basically has no revenue. If Amadeus gets a Spanish bailout but Sabre doesn't get a US bailout then Amadeus will have a massive advantage over Sabre by next year.
That money is for the airlines only, not any of their vendors (such as Sabre). That being said, it should help Sabre a little bit indirectly. On the other hand, if travel itself doesn't pick up, Sabre doesn't make revenue on the TN side so that's a bigger concern.
i hope any company which receives money from gov will be divided into smaller ones. Ineffective companies should disappear from the market and new ones should be born.