Trump says US could advance buy oil, plane tickets to help companies - Business Insider

During comments to the White House press pool on Friday, President Donald Trump suggested that the US government could look into advance purchases of fuel and flights as a way to help struggling energy companies and airlines.The oil industry has been in turmoil for several weeks as fuel demand plummets due to people around the globe staying home because of the coronavirus pandemic.

Similarly, the global airline industry has seen revenue effectively dry up as travel comes to a halt around the world.Although the first major federal financial assistance program related to the pandemic, the CARES Act, offered up to $50 billion of aid for US airlines, an oil company bailout did not appear to be imminent. Treasury secretary Steven Mnuchin said that the government was looking at alternatives, including taking stakes in energy companies.

Although airlines are in relatively stable position for the next few months under the CARES Act and as they seek to raise cash from other sources, including their frequent flyer programs, Trump said that the same idea of pre-purchases could apply to airlines. It was not immediately clear what those pre-purchases could look like, although they would presumably be for vouchers or credits that could be used for government travel once social distancing guidelines and governmental work travel restrictions are lifted.

Trump distance

The airline industry will be the start of the stock market crash next week.

Maybe unicorns could make rainbow money to give everyone!!!

I wonder whats they thinking inside their head.

Its actually a good idea, hopefully all flights will be directed to China to give them back the gift they gave the world.

Screw Trump! The airlines got their filthy bags of money while healthcare professionals and small businesses still suffer. I will only buy tickets from airlines who returned money for canceled flights. Vouchers with useless useby dates or no refunds have not gone unnoticed.

Bulk tickets Low fuel! Sounds like a possibility

He also said to inject people with disinfectants and ultraviolet lights will combat the covid 19? 🤦🏽‍♂️ thats the new America

Quazi nationalization. Nenetey_101

Most of country is unemployed and the ones who are not are working.. like the idea but is it possible?

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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