Southwest offers buyout packages, temporary leave

In order to "ensure survival," Southwest Airlines is offering buyout packages and temporary paid leave to employees.

In documents detailing the packages that were seen by Reuters, Southwest officials said flying capacity is expected to be down 30% in the fall.

Southwest is offering 50% pay for most employees who take a minimum of six months off. Pilots would receive about 61% pay.

Additionally, employees who have been with the company for more than 10 years and choose to leave would receive a year's pay, health benefits and four years of flight privileges. Pilots would receive about two-thirds of their average salary for five years, or until they reach age 65.

Read more from Reuters.