U.S. lawmakers are nearing agreement on a $61 billion rescue package for the avi...
WASHINGTON/CHICAGO - U.S. lawmakers are nearing agreement on a $61 billion rescue package for the aviation sector that would include $25 billion in payroll grants for passenger airlines weathering a sharp falloff in travel demand amid rising coronavirus outbreaks, three people briefed on the matter said.
The package follows a forceful push by airlines and unions that any aid include grants, rather than just loans as in a preliminary Republican proposal envisioned over the weekend. Airline finances have become increasingly stretched as planes fly nearly empty and more people cancel flights than book new ones. S&P downgraded Delta Air Lines’ credit rating to junk on Tuesday.
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