CARES Act Loans

shutdown

Well-Known Member
So far Alaska Airlines, American Airlines, Delta Air Lines, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, Sky West Airlines, Southwest Airlines, Spirit Airlines, and United Airlines have signed letters of intent with the Treasury Department for loans under the CARES Act. Haven't seen any details on any additional terms and conditions, just the no buybacks, no dividends, and limits on executive compensation (since the "maintain 90% of March 24, 2020 employment levels" expires September 30th anyways). Also unclear when these will become formal contracts with money actually moving between accounts.

July 2: Treasury and Five Major Airlines Agree on Loan Terms | U.S. Department of the Treasury
July 7: https://home.treasury.gov/news/press-releases/sm1054
 
Back
Top