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Non-Tech : Airline Discussion Board

JETS 23.99

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Nov 17 4:00 PM EST

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From: Moonray	7/7/2020 6:30:46 PM
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5 more airlines reach terms for billions in federal loans Leslie Josephs Five more U.S. airlines — Delta, United, JetBlue, Southwest and Alaska — have reached agreements with the Treasury Department over the terms for billions in federal loansaimed at helping them weather the impact of the coronavirus. The terms, which weren’t disclosed, require borrowers to com- pensate taxpayers with instruments including warrants, stock or senior debt, the Treasury Department said. Five other airlines, including American, already reached agreements, the Treasury Department said last week. The $2.2 trillion CARES Act set aside $25 billion in loans for U.S. passenger airlines. It isn’t guaranteed that airlines will tap the loans. Carriers also received $25 billion in payroll support that requires them to keep employees paid through Sept. 30, but Delta and United have begun warning employ- ees that government-mandated advance notice of potential furloughs could come this month for thousands of staff members. Airlines are trying to exhaust voluntary measures like buyouts and early retirements before turning to involuntary cuts. o~~~ O

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