Southwest Plans To Cut Pay To Avoid Layoffs, Furloughs

The airline industry is seeking assistance from Congress to cope with the pandemic. CEO Gary Kelly announced pay cuts for nonunion workers starting in January and urged union workers to accept reduced pay to prevent layoffs. Without government funding, Southwest Airlines plans significant spending cuts until a COVID-19 vaccine is available. Kelly will forgo his salary through next year, while senior executives and nonunion workers face pay reductions.

What is the expected timeline for the availability of a coronavirus vaccine to the public according to the text?

What is the duration of the pay cut for senior executives?