Did Delta Airlines Do Stock Buybacks?

Delta spent a total of $11.5 billion on stock buybacks between 2013 and 2019. For comparison, the airline spent $11.25 billion on wages and benefits for its 91,000 employees in 2019. ... As a condition of the funds, airlines agreed to not lay off or furlough workers until after September 30, 2020.

Why did the airlines buy back stock?

The main reason companies buy back stock in the market, of course, is to support their share price. High stock prices not only make shareholders happy, but also increase top executives' wealth by making their shareholdings and stock-purchase options more valuable.

Did Delta Airlines get a bailout?

Delta Air Lines said it expects to receive $2.9 billion in total aid this round, with $830 million in the form of an unsecured loan. The airline said it received the first installment of $1.4 billion on Friday.