Treasury Picks 3 Firms to Advise on Airline Loans

The U.S. Treasury has selected three financial firms to advise the government on distributing loans to the airline industry as part of the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act.

At a press briefing Thursday, Treasury Secretary Steven Mnuchin said PJT Partners (NYSE: PJT) and Moelis (NYSE: MC), two investment banks, and financial services firm Perella Weinberg Partners will act as financial advisors. Each will advise on a different area, Mnuchin said: PJT on passenger airlines, Moelis on cargom and Perella on national security. He added, "and there will be three law firms, which we will announce shortly."

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Source Fool.com