CHICAGO/WASHINGTON: Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed while airlines ride out their toughest crisis in history due to the coronavirus, though some warned the funds are"not enough."
In a memo to employees, Delta Chief Executive Officer Ed Bastian said the company had applied for its share of worker-protection grants, but"those funds alone are not nearly enough." American Airlines, with the largest number of full-time employees among U.S. airlines at 133,700 in 2019, had said it would seek up to US$6 billion in grants and US$6 billion in government loans under a separate US$32 billion funding option for the sector.Southwest Airlines Co was also expected to apply for the grants, even though it and others have warned that the deep coronavirus crisis will force them to shrink in size.
Cargo carriers are suffering from disruption to global supply chains and high-margin business-to-business demand, even as ground-package delivery services increase.
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