Your question: Did airlines get another bailout?

And packed in there is $15 billion for airlines, ostensibly to get them to hire back furloughed workers. … But there’s only about 40,000 furloughed workers, and the $15 billion is only meant to last four months – pay is retroactive to December 1.

Will American Airlines Get Bailout?

American Airlines, along with the likes of United, Delta, Southwest and other airlines, will now get their hands on a $15 billion slice of the $900 billion emergency funding package. … Airline workers will be hoping that an even larger bailout is proposed once President Elect Joe Biden takes office in January.

Did Delta Airlines get a bailout?

Bastian, perhaps inadvertently speaking for his fellow airline chief executives as well, defended Delta taking a $5.4 billion bailout from the federal government in March as part of the CARES Act stimulus package on the heels of years of stock buybacks – $11.5 billion, in fact, between 2013 and 2019.

How much did American Airlines get in bailout?

On Friday, American said in a Securities and Exchange Commission filing that it had agreed with the Treasury Department on a $5.5 billion loan, using its frequent flier program as collateral. The airline expects to be able to raise that number to $7.5 billion. The government initially offered American $4.75 billion.

Why are airlines getting bailouts?

In a first effort to help airlines weather the storm, Congress created a bailout package for US commercial airlines in April 2020 as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

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Did Southwest Airlines take bailout money?

Southwest Airlines says it doesn’t want — or need — to borrow any money from Uncle Sam after all. Earlier this year Southwest, which carries more domestic passengers annually than any other U.S. airline, took a grant of $3.2 billion from Congress via the CARES Act economic stimulus package approved in March.

Is a bailout a loan?

A bailout is the injection of money into a business or organization that would otherwise face imminent collapse. Bailouts can be in the form of loans, bonds, stocks, or cash. Some loans require reimbursement—either with or without interest payments.