‘Open Like Crazy’: Bond Market Draws Airlines Shunning U.S. Aid
- United Air is latest major carrier to avoid the loans
- Loans came with strings attached, such as compensation limits
Photographer: Angus Mordant/Bloomberg
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Every major U.S. airline has now shunned the U.S. government’s $25 billion emergency pandemic loans, avoiding the strings attached to that program in favor of the credit market’s warm embrace.
United Airlines Holdings Inc. announced Monday that it will raise $9 billion from institutional investors through a combination of loans and bonds. Part of that will pay off $520 million the company already borrowed from the federal government program.