Alaska air carrier RavnAir files for bankruptcy as US Treasury mulls grants

FILE PHOTO: Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease , at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, U.S. March 25, 2020. REUTERS/Elijah NouvelageWASHINGTON: S. Treasury for government assistance.

The Trump administration is weighing applications from numerous airlines as it considers how to disburse US$25 billion in passenger airline grants, US$4 billion for cargo carriers and US$3 billion for airport contractors. Congress approved the bailout funds to help air carriers cover payroll costs.RavnAir, which filed for Chapter 11 bankruptcy protection in Delaware, said Sunday it was suspending all operations and laying off all employees.

"We took these actions to ensure our airline has a future, and to give us time to 'hit pause'" while it seeks Treasury grants and"other sources of financial assistance that will allow us to weather the coronavirus pandemic and emerge successfully once it has passed." In a letter posted Sunday, RavnAir Chief Executive Dave Pflieger said the airline was working to"resume the vital air service you depend on to get home to your families, to your businesses, to medical appointments, and to other duties that are essential to our communities and the state of Alaska."

Delta Air Lines Inc , American Airlines Group Inc , Spirit Airlines Inc , Southwest Airlines Co , United Airlines Holdings Inc and JetBlue Airways Corp are among the airlines that confirmed they filed before a Friday deadline set by Treasury to get speedy consideration.On Sunday, top Democrats including House Speaker Nancy Pelosi and Senator Charles Schumer urged Treasury Secretary Steven Mnuchin to move quickly and not impose unreasonable conditions on the grants.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Acting US Navy chief says fired ship captain may have been 'stupid': OfficialsWASHINGTON: Acting US Navy Secretary Thomas Modly, in a surprise speech aboard a coronavirus-stricken US aircraft carrier, told the crew that ... Its quite dumb by Pentagon really If he was stupid then what about those above him? Whats beyond stupid? 😐
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

White House considering US Treasury coronavirus bond: KudlowWhite House advisers have been discussing the possibility of a coronavirus-related U.S. Treasury bond, President Donald Trump's economic adviser ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

HSBC shareholders in Hong Kong mull legal action over dividend scrappingHONG KONG (REUTERS) - HSBC shareholders in Hong Kong are mulling calling for an extraordinary meeting with management and taking possible legal action against the bank's scrapping of dividend payments.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Lufthansa's Belgian carrier suspends flights until mid-MayBelgium's Brussels Airlines, a Lufthansa subsidiary, has extended its suspension of flights until at least May 15, it said on Monday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Deferment granted for cars due for inspection and scrappingSINGAPORE - Several vehicle-related requirements will be waived, deferred or postponed in light of the one-month elevated safe-distancing measures kickingon Tuesday (April 7).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Norwegian Air's March traffic tumbles 60per cent amid virus lockdownNorwegian Air's passenger volume fell by 60per cent year-on-year in March as the company gradually grounded its fleet amid global efforts to halt ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »