Airlines Appear To Come Up Short In Bid To Win Cash Grants In Rescue Package
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WASHINGTON/CHICAGO (Reuters) - A last-ditch effort by the chief executives of major U.S. airlines to try to win cash grants to weather the coronavirus crisis looked to be unsuccessful, four congressional aides and airline officials said late Saturday.
Airlines had made a last ditch plea urging that $29 billion of $58 billion sought in assistance for airlines be in the form of cash grants. They had offered not to make any job cuts through Aug. 31 if they won the cash and to accept restrictions on executive pay and to forgo paying dividends or stock buybacks.
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