WASHINGTON (Reuters) – The U.S. Treasury Department on Friday began distributing $15 billion in new payroll assistance to airlines approved by Congress under similar conditions to an earlier round of aid.
Delta Air Lines (NYSE:) said it expects to receive $2.9 billion, with $830 million in the form of an unsecured loan. The airline said it received the first installment of $1.4 billion on Friday.
Southwest Airlines (NYSE:) said it expected to receive $1.73 billion in total and received $863.7 million on Friday.
Major airlines must also issue warrants to the government as part of the assistance. Congress approved a separate $25 billion in payroll assistance in March.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.