American Airlines Group Inc (AAL)

[Tha Part Time Er]

American Airlines (AAL) - Get Report reportedly has detailed severance packages for high-level employees if they are laid off when the terms of federal aid expire in the fall, people familiar with the matter said.

The severance packages for upper management include around nine months of pay and a little more than two years of healthcare coverage for at least some of the employees at the director level and above, CNBC reported, citing one of the people.

American Airlines indicated last month it plans to cut its management and support staff by about 30% to slash costs as the coronavirus pandemic has severely curtailed air travel.