U.S. airlines nearing acceptance of payroll aid plan: sources [Yahoo! Finance News]
American Airlines Group, Inc. (AAL)
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Source: Yahoo! Finance News
American Airlines planes are parked at the gate during the coronavirus disease COVID-19) outbreak in WashingtonBy Tracy Rucinski and David Shepardson) - Some large U.S. passenger airlines are close to accepting the terms of a $25 billion offer for government coronavirus payroll aid, with announcements possible as early as Tuesday, people briefed on the matter said.Airline industry officials expect all major airlines to accept the grants in coming days, and U.S. Treasury Secretary Steven Mnuchin said on Monday he expects decisions to come out "very quickly."Brent McIntosh, the Treasury undersecretary for international affairs, told on Monday the agency was not planning to change the terms laid out on Friday, which require 30% of the funds allotted to each airline to be repaid.The U.S. government would also receive warrants equal to 10% of the loan amount."We've attempted to come up with an equitable methodology that works for all passenger air carriers, and we don't want to engage in
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AAL
Earnings
- 7/25/24 - Beat
AAL
Sec Filings
- 8/1/24 - Form 4
- 8/1/24 - Form 3
- 7/31/24 - Form 8-K
- AAL's page on the SEC website