U.S. lawmakers are nearing agreement on a package of grants for passenger and ca...
FILE PHOTO: American Airlines passenger planes crowd a runway where they are parked due to flight reductions made to slow the spread of coronavirus disease , at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. REUTERS/Nick Oxford/File Photo
The deal is expected to include $25 billion in grants for passenger airlines, $4 billion in grants for cargo carriers and $3 billion for contractors like caterers. All funds would be directed toward payroll costs. The final deal is also expected to include another $29 billion in loans for passenger and cargo airlines. Airlines have warned that without cash grants they could be forced to layoff hundreds of thousands of people as U.S. travel demand has collapsed.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top Senate Republican sees Monday coronavirus vote, Pelosi plans own billU.S. lawmakers sent mixed signals on Sunday about whether they are near a deal o...
Read more »
Coronavirus stimulus package explained: What a bailout is — and isn't - Business InsiderHere's what a bailout is, what could be included in the one to address the coronavirus fallout, and a look at past bailouts in the US.
Read more »
Stocks and Oil Fall as Coronavirus Cases SurgeGlobal share benchmarks and oil prices fell at the start of the week’s trading, as the coronavirus pandemic worsened and U.S. lawmakers failed to reach a stimulus deal.
Read more »
Stocks Fall Even After The Fed's Latest MoveMajor markets are sliding again Monday as governments and bank officials struggle to deal with the economic fallout of the pandemic. The Dow has plunged about 36% from its February high.
Read more »
GE's aviation unit to cut U.S. workforce by about 10%: CEOGeneral Electric Co 's aviation unit plans to cut its total U.S. workforce ...
Read more »