Mnuchin said 10 airlines to participate in payroll support program
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April 15, 2020 4:15 PM EDT
United Airlines (NYSE: UAL) confirmed the airline expects to receive a total of approximately $5.0 billion from the federal government through the Payroll Support Program under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Of the $5.0 billion total the airline expects to receive, approximately $3.5 billion will be a direct grant and... More
April 14, 2020 4:34 PM EDT
By Tracy Rucinski and David Shepardson
(Reuters) - The U.S. Treasury Department said on Tuesday that major passenger airlines have agreed in principle to a $25 billion rescue package, ensuring airline workers have jobs until October while the industry battles its biggest-ever crisis.
Airlines are hopeful that U.S. passenger traffic, which has dropped by 95% due to the coronavirus pandemic, will begin to recover by October but have warned that the slowdown in air travel could extend into next year and even longer. It's possible they will need another round of government bailouts to survive.
Major... More
April 14, 2020 4:15 PM EDT
Treasury and airlines reach pact in principle on aid - DJ
American Airlines (NASDAQ: AAL)
Alaska Air Group (NYSE: ALK)
Delta Air Lines (NYSE: DAL)
JetBlue Airways (NASDAQ: JBLU)
Southwest Airlines (NYSE: LUV)
United Airlines (NASDAQ: UAL)
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