Treasury signs letters of intent with five airlines for Cares law loans

Under the $ 2 trillion economic aid program approved by Congress, airlines were eligible to receive more than $ 50 billion in grants and loans. The $ 25 billion grants that passenger carriers requested earlier this year were part of the payroll support program and aimed at retaining frontline workers, including mechanics, flight attendants and pilots, at work. Freight carriers were also eligible to receive $ 4 billion in subsidies.

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