US airlines, Treasury Department reach agreements on billions in coronavirus aid – CNBC

Bloomberg

U.S. airline companies use some 750,000 individuals. Dallas-based Southwest said it expects to get $3.2 billion under the program, more than $2.3 billion in payroll assistance and a 10-year low-interest loan of close to $1 billion. Delta said it reached an offer with the Treasury Department for $5.4 billion, including a 10-year, $1.6 billion, unsecured-loan and the airline will provide the government warrants to get around 1% of the Delta stock at $23.39 a share, last Friday’s closing rate, over 5 years.”We invite the news that a number of major airline companies mean to take part in the Payroll Support Program,” the Treasury Department stated in a declaration. The Treasury Department last week proposed that airlines to pay back 30% of the grants, terms that appear to have stuck, at least with American and Southwest.

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