Airlines Reach Deal with Treasury on Bailout Terms
U.S. airlines and negotiators from the Treasury Department have reportedly resolved their differences and have an agreement on the terms of an aid package, giving the industry months of runway to wait for passengers to return following the COVID-19 pandemic.
The industry won $50 billion in support as part of a $2 trillion economic stimulus plan passed through Congress late last month, but the legislation gave Treasury broad discretion when considering how the aid will be distributed and what will be required in return. Airline shares fell on Monday after weekend reports indicated the airlines were balking at the terms Treasury was demanding, but according to the Wall Street Journal those differences have now been resolved.
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Source Fool.com
