Hi, I'm Dan Pramak, and welcome to Axios Recap, presented by Bridge Bank.

Today's Monday, October 5th.

Regeneron stock is up, AMC stock is down, and we're focused on the future of America's airlines.

Beginning last Thursday, American air carriers began laying off or furlowing tens of thousands of workers,

including pilots, flight attendants, and ground crew.

The bottom line is it didn't need to be this way.

For months, airlines had been warning that these furloughs and layoffs would happen

if Congress didn't extend their bailout funding past the September 30th expiration date.

They said, convincingly, that they needed another $25 billion, which would help maintain operations

through next March when hopefully travel could return to something approximating normal levels.

Politicians, though, they just dithered, letting the deadline hit and then pass,

even though leaders of both political parties and the Trump administration support the

$25 billion.

House Speaker Nancy Pelosi late last week asked airlines to hold off suggesting that the House

might soon pass a standalone airline bill rather than insisting on it being included in a

broader stimulus. But then Trump got sick and everything apparently ground to a halt.

Well, except the pink slips. Those kept coming. Why it matters beyond the personal pain of these individuals

is that these cuts can have major downstream ramifications, even if America begins flying

again. So here's one example. Imagine there are 100 pilots trained on a particular

wide-bodied aircraft, and they spend part of their time training younger

pilots who typically fly smaller planes.

Now though, those younger pilots get furloughed because of seniority.

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