More airlines bag federal CARES Act loans
Delta Air Lines, United, JetBlue, Southwest and Alaska have joined American Airlines in agreeing further federal loans to shore up their business.
They will share in the $25 billion reserved for airlines as part of the $2 trillion CARES Act.
Hawaiian Airlines, Sky West Airlines and Spirit Airlines have already agreed loans as part of CARES.
"The major US airlines play a vital role in our economy and are critical to domestic and international travel and commerce," treasury secretary Steven Mnuchin said.
"These airlines are among the companies most heavily affected by the disruptions to social and economic activity."
There is no news on how much each will receive but Delta said recently it would seek $5.4 billion in aid.
Delta reported its first quarterly loss for five years in April.
The financial safety is more important than ever as a gradual uptick in travel demand seems to be stalling as many states see a surge in Covid-19 cases.
United Airlines said the spike in cases is affecting bookings right now.
Delta also said it would scale back the number of flights it had previously planned for August.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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