"BIG Change Here": Airline Stocks Surge As Pelosi Announces "Imminent" Standalone Relief Package

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by Tyler Durden
Friday, Oct 02, 2020 - 12:19 PM

House Speaker Nancy Pelosi (D-CA) announced on Friday that she will move for a standalone airline relief package following a flurry of layoff announcements.

Pelosi urged airlines to delay planned furloughs, as an agreement is "imminent" on government assistance, according to Bloomberg.

"As relief for airline workers is being advanced, the airline industry must delay these devastating job cuts," she said.

Meanwhile, House Majority LEader Steny Hoyer (D-MD), the House may advance the airline bill today.

Stocks, particularly airline stocks, bounced on the news - though as @ForexLive notes, "The market is mis-reading this. The newswire headlines hint it's a broader deal but it's airlines only."