Airlines get $60 billion coronavirus bailout, with strings attached - Business Insider

, would prohibit stock buybacks and share dividends for at least a year after the loans have been repaid. It also restricts executive compensation.

Additionally, the bill gives airlines $25 billion in grants to pay workers through September. Cargo air carriers get an additional $4 billion. Executive compensation for any airline receiving aid is capped at 2019 levels. CEOs of the major US airlines earned between $10 million and $15 million in total compensation in 2018. Figures for 2019 are not yet publicly available.

The Association of Flight Attendants , which represents cabin crew at about 20 mainline and regional airlines, said it was pleased with the deal, and that it would help employees worried about layoffs. "ALPA pilots applaud the fact that the economic relief package contains provisions to limit furloughs, protect our contracts, and ensure that federal assistance is used to pay airline employees' salaries and benefits, not executive compensation or corporate stock buybacks," he added.

richardbranson It’s your lucky day! VirginAtlantic

Same as bombardier promised

Government should’ve have taken over the airlines! But I see it’s scratch my back and I’ll scratch your back for the GOP!

Shameful - they should get nothing

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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. Smells like socialism? ¯\\_(ツ)_/¯ a fraud and conman and white-collar criminal?
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Coronavirus: history of Silver Airways, Florida's regional airline - Business InsiderSilver connects Florida cities on underserved air routes as well as operates routes to Caribbean islands such as the Bahamas, Cuba, and Puerto Rico.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Bill Ackman detailed a $2 billion bet he made on coronavirus recovery - Business InsiderAckman redeployed 'substantially all' of the proceeds from the hedges by adding to existing investments, he said in a letter to shareholders.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Coronavirus crisis: $1 trillion in debt may be distressed, UBS warns - Business InsiderUBS: The coronavirus crisis has pushed $1 trillion in corporate debt to the brink of default. Here's where to expect the most carnage — and which industries will be spared. What do you think about the Hantavirus with a 38% mortality rate, it is unlikely to spread though? We might aswell re elect trump because he preaty much is screwing us all the way to china.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »