7/7/2020, 3:43 PM (Source: TeleTrader)
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Five more US airlines to receive loans from CARES Act

United States Treasury Secretary Steve Mnuchin announced on Tuesday that five additional airlines reached agreements to receive loans under the government's Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Alaska Airlines, Delta Air Lines, JetBlue Airways, United Airlines, and Southwest Airlines have joined the list of five other companies from the sector that have struck loan deals with the Treasury Department last week.

"Treasury's authority under the CARES Act to provide up to $25 billion in liquidity to passenger air carriers and related businesses will help preserve America's aviation industry while also protecting taxpayers. We look forward to working with the airlines to finalize agreements and provide the airlines the ability to access these loans if they so choose," Mnuchin said in a statement.

Breaking the News / MS