Democrats press U.S. Treasury to move quickly on $32 billion aviation grants [Yahoo! Finance News]
American Airlines Group, Inc. (AAL)
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Source: Yahoo! Finance News
By David ShepardsonWASHINGTON, April 5 Reuters) - Top Democrats in Congress on Sunday urged the U.S. Treasury not to set "unreasonable conditions" in awarding $32 billion in cash assistance to airlines and airport contractors and warned that they could be forced to file for bankruptcy if the requirements are too onerous.Airline unions have raised concerns that Treasury Secretary Steven Mnuchin will demand too much in equity, warrants or other financial instruments in exchange for the government assistance meant to cover some payroll costs approved by Congress last month.In a letter Sunday, House Speaker Nancy Pelosi, Senate Democratic Leader Chuck Schumer, House Transportation Committee chairman Peter DeFazio and Senator Sherrod Brown urged Treasury "to quickly and fairly enter in to direct payroll assistance agreements."Some officials have raised concerns that if Treasury demands too much, airlines could opt to file for bankruptcy instead.The lawmakers' letter said the goal was to pr
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AAL
Earnings
- 10/19/23 - Miss
AAL
Sec Filings
- 11/21/23 - Form 4
- 11/21/23 - Form 144
- 11/20/23 - Form 144
- AAL's page on the SEC website