Mnuchin Rebuffs Airlines, Holds Firm on Repayment for Rescue
- Carriers in talks with Treasury Department on payroll grants
- Government wants loans for 30% of aid to pay salaries
Photographer: Kevin Dietsch/UPI/Bloomberg
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Treasury Secretary Steven Mnuchin is not budging on strict repayment guidelines for airlines wanting taxpayer aid, according to people familiar with the matter, dashing the industry’s hopes for leniency.
U.S. carriers seeking to negotiate payback demands on federal funding for payroll assistance now see very little room for movement with Treasury officials, said the people, who asked for anonymity to discuss private negotiations.