Among the ten airlines that have agreed to the rescue package are the four largest U.S. carriers Delta, American, United and Southwest Airlines.
American Airlines Group has released that the U.S. Department of the Treasury has approved US$5.8 billion in financial assistance from the Payroll Support Program (PSP) created through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Southwest Airlines has also reached an agreement in principle with the United States Department of Treasury and is expecting disbursements of more than US$3.2 billion under the government program, consisting of more than US$2.3 billion in direct payroll support and a nearly US$1 billion unsecured term loan.
Delta Air Lines has reached an agreement for US$5.4 billion in emergency relief. The agreement with Treasury includes US$5.4 billion from the payroll support program. The payment includes an unsecured ten-year low-interest loan of US$1.6 billion, and Delta will provide the government with warrants to acquire about 1 percent of Delta stock at US$24.39 per share over five years.
