The Treasury Department Announces a Second Round of Airline Loans
Five more U.S. airlines have signed letters of intent to accept federal aid under the CARES Act, CNBC reports. The Treasury Department previously announced agreements with the first group of airlines last week. The latest airlines to reach agreements are Delta Air Lines (NYSE: DAL), United Airlines Holdings (NASDAQ: UAL), JetBlue (NASDAQ: JBLU), Southwest Arlines (NYSE: LUV), and Alaska Air Group (NYSE: ALK).
Though airlines have been seeing an uptick in demand, capacity levels still significantly trail levels from a year ago. United recently announced it was adding 25,000 flights to its August flight schedule, but said that was still only around half the domestic capacity of a year ago.
Image source. Getty Images.
The Treasury didn't announce the amounts or terms for the loans. But United and Delta have previously said they were eligible for $4.5 billion and $4.6 billion, respectively, according to the CNBC report.
Source Fool.com
