The airline industry could shrink by half to survive, United Airlines chairman says

The US airline industry needs to shrink its labor costs by as much as 50% to survive — and even then it’s possible some carriers don’t make it through the crisis, United Airlines Executive Chairman Oscar Munoz told CNN Business.The US airline industry needs to shrink its labor costs by as much as 50% to survive — and even then it’s possible some carriers don’t make it through the crisis, United Airlines Executive Chairman Oscar Munoz told CNN Business.