India  

US Airlines Get Extra $9.5 Billion During Coronavirus Pandemic

Video Credit: Wochit - Duration: 00:32s - Published
US Airlines Get Extra $9.5 Billion During Coronavirus Pandemic

US Airlines Get Extra $9.5 Billion During Coronavirus Pandemic

The U.S. Treasury Department said it released $9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers.

According to Reuters, this makes it a total of $12.4 billion given to the airline sector during the coronavirus pandemic.

The government disbursed grant funds to 10 major airlines and 83 small carriers.

The Treasury requires major airlines receiving more than $100 million in assistance to repay 30 percent in low-interest loans over 10 years.

A condition of the grants is that airlines cannot cut pay or jobs through Sept.

30.


You Might Like

Related news from verified sources

U.S. airlines receive extra $9.5 billion in payroll support - U.S. Treasury

The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from...
Reuters India - Published

COVID-19: British Airways to cut 12,000 jobs amid grounded air travel

British Airways may be forced to cut more than a quarter of its workforce as the coronavirus pandemic...
Mid-Day - Published

Global airlines' estimated coronavirus losses rise to $314 billion - IATA

Estimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more...
Reuters India - Published


Related videos from verified sources

American Airlines posts $2.2B loss during pandemic [Video]

American Airlines posts $2.2B loss during pandemic

American airlines lost a staggering 2.2 billion dollar in its first quarter. The company reported today that revenue fell 19% while costs continued to rise even as the coronavirus spread.

Credit: KTNV Channel 13 Las Vegas     Duration: 00:20Published
American Airlines Posts $2.2 Billion Loss During Coronavirus Pandemic [Video]

American Airlines Posts $2.2 Billion Loss During Coronavirus Pandemic

American Airlines reported a staggering loss of $2.24 billion for the first quarter, when the coronavirus pandemic triggered a sharp drop in air travel. Katie Johnston reports.

Credit: CBS 11 Dallas     Duration: 00:34Published
WEB EXTRA: Thunderbirds and Blue Angels Fly Over New York City [Video]

WEB EXTRA: Thunderbirds and Blue Angels Fly Over New York City

The U.S. Air Force Thunderbirds and the U.S. Navy Blue Angels did a flyover in New York City on Tuesday to thank first responders and other essential workers on the front lines of the COVID-19..

Credit: CBS4 Miami     Duration: 00:53Published