About: http://data.cimple.eu/news-article/23e62fe9cae8101a142ac90fe58932e80828e5d057cbe1ad9724950b

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rdf:type	schema:NewsArticle
schema:articleBody	US Treasury Secretary Steven Mnuchin and major US airlines on Tuesday reached an agreement on aid amid the coronavirus pandemic, in a bid to pay workers and avoid bankruptcies in an industry that employs 750,000 people. The Treasury came to terms with 10 airlines, including the four largest -- Delta Air Lines, Americans Airlines, United Airlines and Southwest Airlines. Some were initially hesitant to accept the money for fear of nationalization despite the damage done by the virus, which has brought air travel to a standstill. "We look forward to working with the airlines to finalize the necessary agreements and disburse funds as quickly as possible," Mnuchin said in a statement. Congress last month approved a $2.2 trillion stimulus plan to rescue the world's largest economy, which includes $25 billion for airlines to continue paying employees' salaries and benefits until September 30. While details of the agreement were not disclosed, a source close to the negotiations said the US government would become a minority shareholder in the airlines. In his statement, Mnuchin said the deal "will support American workers and help preserve the strategic importance of the airline industry while allowing for appropriate compensation to the taxpayers." In talks last Friday, the Treasury informed the airlines that they'd have to pay back 30 percent of the money they received, the source said. The federal government also wanted warrants -- financial instruments that can be turned into stock shares and whose price is usually fixed in advance -- in exchange for the help. According to the source, Washington was asking for warrants to compose 10 percent of the aid that each company receives. Airlines are also eligible for another $25 billion in loans to help them resume operations after the pandemic caused air traffic to plunge, meaning carriers to suspended routes, cut back on orders and canceled hundreds of flights. cs/caw/
schema:headline	US Treasury, airlines reach deal on financial aid
schema:mentions	United States Secretary of the Treasury Steven Mnuchin United States Department of the Treasury Nationalization American Airlines Southwest Airlines United Airlines Ebola virus disease Delta Air Lines George Washington United States Congress Pandemic Coronavirus disease 2019 Canadian Auto Workers
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-14 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	86 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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