US Treasury: Major Airlines To Have $25 Billion In Federal Aid
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April 15, 2020 - by DAVID KOENIG Associated Press for seattletimes.com
The Treasury Department said Tuesday that the nation's major airlines have tentatively agreed to terms for $25 billion in federal aid to pay workers and keep them employed through September.
Seattle-based Alaska Air Group said it will get $992 million, of which $267 million will be in the form of a loan and must be repaid to the government.
American Airlines will get $5.8 billion, consisting of a $4.1 billion grant and a $1.7 billion low-interest loan, the Fort Worth, Texas-based carrier said.
Analysts expected United and Delta were also eligible for more than $5 billion. United said it expected to complete a final deal with Treasury "in the next few days," but gave no figures. Delta did not comment immediately.
Southwest Airlines said it expects to get $3.2 billion, including more than $2.3 billion in cash and the balance in an unsecured loan.
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