Exclusive: Treasury wants warrants, repayment from major U.S. airlines on 30% of grant money - sources [Reuters]
American Airlines Group, Inc. (AAL)
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Source: Reuters
Exclusive: Treasury wants warrants, repayment from major U.S. airlines on 30% of grant money - sources WASHINGTON/CHICAGO (Reuters) - U.S. Treasury Secretary Steven Mnuchin told major airlines on Friday he wants them to repay some of the $25 billion in cash grants the U.S. Congress approved last month to cover payroll costs as airlines weather an unprecedented crisis due to the coronavirus, three industry officials briefed on the matter told Reuters. The Treasury said in a statement Mnuchin will not require passenger air carriers that will receive $100 million in payroll assistance or less to provide compensation and “funds will be available promptly upon approval of their applications.” Reuters first reported earlier on Friday that Treasury would not seek warrants from smaller regional carriers, which had urged the government not to demand compensation. Mnuchin spoke with the chief executives of major airlines in separate calls on Friday and told them the department was offering 70%
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AAL
Earnings
- 10/24/24 - Beat
AAL
Sec Filings
- 12/13/24 - Form 4
- 12/13/24 - Form 4
- 12/13/24 - Form 4
- AAL's page on the SEC website