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Alaska Airlines cuts 80% of flights as coronavirus fallout hits travel industry

The Seattle-based airline announces an 80% cut to its flights in April and May, due to drastically reduced demand for travel.

Editor's note: the video attached to this story is from March 25.

Alaska Airlines will cut its flight schedule in April and May by 80% from normal levels, citing reduced demand for travel due to the global coronavirus pandemic.

The company informed investors of the cut in a report to the U.S. Securities and Exchange Commission filed Monday. The 80% cut in flights is deeper than the cuts the company had previously announced last month. 

RELATED: Alaska Airlines reducing flight schedule by 70% due to coronavirus

The company also announced that they had applied for payroll support grants under the $2 trillion federal Coronavirus Aid, Relief and Economic Security Act (CARES Act).

"Given the uncertainty about when demand may bottom out and when a recovery may begin, the CARES Act payroll support grants will be critical as we weather the challenging months ahead," the airline said in the statement.

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In its earlier announcement of cuts, Alaska Airlines CEO, President and other high-ranking officials will be taking a pay reduction through Sept. 30. Annual pay increases to employees have been suspended and hours have been cut back. 

The travel and airline industry have taken massive economic hits through the global coronavirus pandemic. Seattle-Tacoma International Airport has also reported a drastic drop in travelers, with a significant decrease in passengers coming through checkpoints.