Five U.S. airlines reach deals with Treasury Department for billions in coronavirus loans

and privately-held Frontier Airlines have signed letters of intent for the loan terms, the Treasury Department said Thursday.

Other airlines have said they expect to be eligible for billions in federal loans but haven't yet signed letters of intent, though conversations are ongoing, a Treasury Department spokeswoman said.because of the virus, were allowed to apply for portions of the $25 billion in federal loans, funding set aside under the CARES Act in March.

The Treasury Department didn't disclose the amounts and terms of the loans, for which airlines were required to put up equity, warrants, or senior debt to compensate taxpayers. But executives have been previewing the amount they expect to receive. American Airlines CEO Doug Parker last month told shareholders that the airline expects to be able to borrow up to $4.75 billion and that it plans to use cash flows from its AAdvantage frequent flyer credit card as collateral.

In the spring U.S. airlines started receiving portions of an additional $25 billion in aid that secures sector jobs through Sept. 30, relief that airline labor unions want

Waste of money unless they don’t lay-off or cram planes and middle seats.

Tax payer dollars being flushed down the toilet! Public companies need to be self sustaining using shareholders’ investments and good fiscal management. STOP corporate socialism! corpsocialism

2019: Doug Parker made $11,571,714 - AA airlines Peter R. Ingram made $3,196,153 - Hawaiian Rusell Childs received $3.6M- Sky West Robert Fornaro made $2,405,551- Spirit Frontier is private so who knows the truth.

FEDcriminals federalreserve and Treasurycriminals MUNCHKIN

and da ppl get $1200 for 5 months seems fair $500 B to the airlines..........

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