Treasury Department Extends Pandemic Aid To Hard Hit Sector

Via The Washington Examiner:

Treasury Secretary Steven Mnuchin announced Tuesday that a number of major airlines will participate in a federal government emergency lending program in order to blunt the blow from the coronavirus economic shutdown. 

“We welcome the news that a number of major airlines intend to participate in the Payroll Support Program,” Mnuchin said in a press release on Tuesday. 

“This is an important CARES Act program that will support American workers and help preserve the strategic importance of the airline industry while allowing for appropriate compensation to the taxpayers,” Mnuchin added, referring to the federal government’s third coronavirus economic relief package from last month, the CARES Act. 

Major airlines such as Alaska Airlines, Allegiant Air, American Airlines, Delta Air Lines, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, United Airlines, SkyWest Airlines, and Southwest Airlines all plan to participate in the new Payroll Support Program, the Treasury said.