About: http://data.cimple.eu/news-article/370cfabb48aac7c1f83ae32913455d2affb43feae2f48f8d469cdb66

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About: http://data.cimple.eu/news-article/370cfabb48aac7c1f83ae32913455d2affb43feae2f48f8d469cdb66 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Five more US air carriers including Delta Air Lines and United Airlines will take out loans under the CARES Act stimulus package, Treasury Secretary Steven Mnuchin said on Tuesday. The decision means most major US air carriers have agreed to accept financing from the $2.2 trillion measure passed in late March to blunt the impact of the coronavirus pandemic. "We welcome the news that Alaska Airlines, Delta Air Lines, JetBlue Airways, United Airlines, and Southwest Airlines have now also signed letters of intent," Mnuchin said in a statement. The CARES Act provided for $25 billion to be lent to airlines. While carriers were initially hesitant to take the money for fear of draconian conditions, Treasury announced last week that American Airlines, Frontier Airlines, Hawaiian Airlines, Sky West Airlines and Spirit Airlines agreed to the government's terms. Treasury did not specify the amount each airline was receiving, saying only that it required borrowers to provide warrants, which are financial instruments that can be converted into shares, or other forms of debt or equity. Borrowers must also comply with conditions like maintaining employment and not paying employees above set levels, along with temporarily suspending the payment of dividends and share buybacks. The loans are on top of another $25 billion package paid out by the government in exchange for a commitment by the airlines not to cut jobs until after September 30. American Airlines said last week it had signed a letter of intent with the Treasury for a $4.75 billion loan, but company executives warned in a letter that they expected to have 20,000 more employees than necessary by the fall. cs/bgs
schema:headline	Delta, United join US carriers in receiving Treasury loans
schema:mentions	Steven Mnuchin Frontier Airlines Alaska Airlines Spirit Airlines United States Department of the Treasury Stock Sky UK JetBlue American Airlines Southwest Airlines United Airlines Delta Air Lines Pandemic Coronavirus Hawaiian Airlines
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-07 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	81 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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