Mnuchin Asks Airlines to Propose Financial Stake in Aid Bid
- Treasury issues guidance on access to $61 billion in aid
- $32 billion is reserved for helping keep workers on payrolls
This article is for subscribers only.
Airlines will be required to propose up-front how the federal government could retain financial stakes in their companies in exchange for a share of $61 billion in coronavirus aid designated for the industry, according to guidelines released by the Treasury Department.
The assistance is aimed at helping U.S. carriers stay afloat and continue to pay workers, as companies struggle with a near 90% drop in passenger traffic because of the widening pandemic.