US Airlines Received $ 25 Billion in Aid Government Loans

Companies have already received $ 25 billion in aid to pay salaries and are candidates to receive another $ 25 billion.

The largest airlines in the United States have signed letters of intent to obtain federal loans and face the crisis generated by the measures due to the coronavirus pandemic.

American airlines have already received $ 25 billion in aid to pay salaries and are candidates to receive another $ 25 billion under a federal loan program.

The Treasury Department said United Airlines, Alaska Airlines, Delta Air Lines, JetBlue Airways and Southwest Airlines have signed letters of intent involving the loan, which includes restrictions on payment to executives and share repurchases.

“We will work with the airlines to finalize the agreements and provide them with the ability to access these resources if they choose to do so,” said US Treasury Secretary Steven Mnuchin in a statement.

Last week, the department said it had agreed on loan terms with five other airlines, including American Airlines.

American airlines have until September 30 to decide whether to take out the loan. They will be able to resign from October 1st.

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US Airlines Use Billionaire Government Loans - /10

Summary

Companies have already received $ 25 billion in aid to pay salaries and are candidates to receive another $ 25 billion.

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