UPDATE 3-Trump says airlines could receive grant details this weekend; sources say around 275 applied [Reuters]
Southwest Airlines Company (LUV)
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Source: Reuters
Trump says airlines could receive grant details this weekend; sources say around 275 applied WASHINGTON/CHICAGO (Reuters) - U.S. President Donald Trump said on Thursday that airlines could receive details this weekend about the terms of a $32 billion payroll grant to offset the impact of the coronavirus outbreak, which sources told Reuters has received around 275 applicants. “We’ll be probably putting out a proposal and giving them some of the very powerful details over the weekend. It’s moving along quickly. The airline business has been hit very hard,” Trump said following a briefing with Treasury Secretary Steve Mnuchin. “I think it’s going to be a very acceptable package. It’s a very big package,” Trump said, noting it will be “good for the airlines.” Under the $2.3 trillion CARES Act, passenger airlines are eligible for $25 billion in cash grants for payroll; cargo carriers can get $4 billion while airport contractors like caterers and airplane cleaners are eligible for $3 billio
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