WASHINGTON/CHICAGO: US President Donald Trump said on Thursday that airlines could receive details this weekend about the terms of a US$32 billion payroll grant to offset the impact of the coronavirus outbreak, which sources told Reuters has received around 275 applicants.
Earlier, Mnuchin told CNBC that the airline package would be the next"big thing we'll be rolling out" as part of the CARES Act, with preliminary information starting on Friday. The terms of any warrants are unclear and final numbers could still change as talks with the airlines continue. Airlines are eligible for cash equal to the compensation paid to employees from Apr 1-Sep 30, 2019, but Treasury may not pay the full amount of grants those airlines seek because the value of requests it plans to approve exceeded US$25 billion, the sources said.
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