WASHINGTON, April 12 — Major US airlines were urging Treasury officials and the federal government’s outside advisers yesterday to scrap or revise a proposal that would make part of the US$25 billion earmarked by Congress to help keep workers on the payroll repayable in the form of low-cost...
Sunday, 12 Apr 2020 09:18 AM MYT
Treasury Secretary Steven Mnuchin told the airlines on Friday the government would require them to repay 30 per cent of the grants in low-cost loans over 10 years — with the first five years at 1 per cent interest — before the interest rate would rise. The government is also seeking warrants equal to 10 per cent of the loan amount.
Airlines for America, a trade group representing American Airlines Group Inc, United Airlines, Delta Air Lines Southwest Airlines Co, JetBlue Airways Corp, Alaska Airlines and others, said Saturday it believes the US$25 billion in payroll assistance was “to be only in grants – which is considerably more effective for our employees – and not a combination of grants and loans.”
Congress set aside another US$25 billion in loans to passenger airlines, but no action on those is expected until Treasury makes decisions on the grants.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi, Russia seek to finalise oil cuts in G20 talks, want US involved | Malay MailDUBAI, April 10 — Top oil nations were finalising a deal at G20 talks today for big output cuts to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking a lion’s share and signs the United States might take unprecedented moves to help. Riyadh, Moscow and its allies,...
Read more »
US man arrested after beating mum over toilet paper | Malay MailLOS ANGELES, April 10 — A California man was arrested this week after allegedly punching his mother — who had apparently hidden the family’s stash of toilet paper because of his excessive use of the hot commodity. Police were called to the family’s home in Saugus, north of Los Angeles, at...
Read more »
Fed’s Powell says US economic rebound ‘can be robust’ | Malay MailWASHINGTON, April 9 — The United States is facing a “truly rare” economic crisis, but it should see a solid recovery once the coronavirus pandemic has passed, Federal Reserve Chairman Jerome Powell said today. While the economy is moving “with alarming speed” towards a “very high...
Read more »
Ringgit up against broadly declining US dollar | Malay MailKUALA LUMPUR, April 10 — The ringgit continues yesterday’s upward momentum to trade higher against the US dollar in the early session today on a broadly weaker greenback following the announcement of another stimulus by the US Federal Reserve (Fed). The announcement lifted the equities but...
Read more »
US PGA Tour exploring possibility of return without fans | Malay MailLOS ANGELES, April 11 — The US PGA Tour is considering various scenarios to a return to competition in the wake of the Covid-19 pandemic, including playing some events without fans, Golf Digest reported Friday. The tour told players in a memo sent Thursday, and obtained by Golf Digest, that it...
Read more »
Trump says when to reopen US economy ‘biggest decision’ of presidency | Malay MailWASHINGTON, April 11 — President Donald Trump on Friday said his decision on when to reopen the US economy, shuttered due to the coronavirus pandemic, will be the toughest he has ever taken. “I’m going to have to make a decision and I only hope to God that it’s the right decision. But I...
Read more »