Treasury Department and airlines reach pact in principle on coronavirus aid [Yahoo! Finance News]
Delta Air Lines, Inc. (DAL)
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Source: Yahoo! Finance News
Treasury Department and airlines reach pact in principle on coronavirus aidYahoo VideoApril 15, 2020The Treasury Department and airlines reach an agreement in principle for a $25 billion aid package. Yahoo ’s Ines Ferre breaks down how airlines are faring on On The Move.Video TranscriptADAM SHAPIRO:INES FERRE:So just, let's take a look at some of these airlines and how they're moving. Year to date, you can see how much they've lost, American down about 60% year to date. Today it's slightly under pressure, down more than 2%. American was approved for $5.8 billion. That aid is going to come in two forms. First, a grant for $4.1 billion and also a low interest rate loan of $1.7 billion.Let's take a look at Southwest, LUV. LUV is down more than 5%. Southwest expects to receive $3.2 billion, more than $2 billion of that in payroll support and close to $1 billion in the form of a low interest rate loan. And very important also, Southwest cannot buy back shares until September 30th of next
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