Donald Trump agrees a $ 25 billion bailout with US airlines

Donald Trump Agrees a $ 25 Billion Bailout With US Airlines

Washington – The government of Donald Trump reached a rescue agreement on Tuesday with the main US passenger airlines, one of the sectors most affected by the COVID-19 pandemic, according to a statement from the Treasury Department, in which it was not specified. the amount.

The bailout, according to US media, amounts to about $ 25 billion and aims to allow companies to face the payment of payrolls.

The airlines included in the agreement are American Airlines, Delta Air Lines, United Airlines, Alaska Airlines, Allegiant Air, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, SkyWest Airlines and Southwest Airlines.

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American Airlines, for example, will receive $ 5.5 billion, while Soutwest Airlines $ 3.2 billion.

This money comes from the $ 2.2 trillion economic stimulus package agreed and approved at the end of last March by the White House and Congress, the largest in the history of the United States.

Treasury Secretary Steven Mnuchin said in the statement that the program “will support American workers and help preserve the strategic importance of the airline industry, while allowing adequate compensation to taxpayers.”

Mnuchin also detailed that negotiations continue to expand the agreement with smaller passenger airlines and freight companies.

According to the economic stimulus package, private companies that receive government aid must maintain 90% of the workforce that they had as of March 24 and restore, once the state of emergency passes, 90% of the workforce that they had February 1. Employees must maintain their full salary.

Companies must also compensate the government with part of their property through equity participations or with priority debt.

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