3/26, 2:56 PM (Source: TeleTrader)
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Mnuchin wants US to take stakes in airlines - report

United States Treasuriy Secretary hinted that the US government is prepared to take stakes in airlines as part of the $2 trillion economic package that passed the Senate and is awaiting a vote in the House of Representatives, the Wall Street Journal reported on Thursday.

Initial versions of the deal that foresaw $50 billion for airlines to be given out in loans. However, people familiar with the matter said that Mnuchin told Republican senators during final negotiations that the US government would instead take stakes in airlines and issue direct grants to the firms.

Aviation has been severely hit by the coronavirus crisis as many air carriers lost passengers as a result of global travel restrictions.

Breaking the News / VP