BangDingOw

Fantastic if true!! You have a source?

Mesabah

The government is going to pay for the SIL lines, it’s not 100% of pay apparently.

Aero1900

From CNBC:

As part of the deal, airlines will be prohibited from stock buybacks and CEO bonuses, Senate Minority Leader Chuck Schumer wrote in a letter Wednesday to Democratic senators. The duration of that ban could not be immediately determined.

A senior administration official told CNBC that airlines will not need to pay back the direct grants they receive, though the government will take some equity share. Companies must also agree to refrain from layoffs through a date later this year.

BangDingOw

What does that mean? Thx

PiperPower

Are regional airlines not included in this then? Furlough letters have already been sent out to some from what I’ve heard.

Aldo Raine

You mean the posted article everybody else is referencing?

Jeff90

I would almost guarantee regional airlines will not be included, although we make 80% less than a mainline pilot

Mesabah

Yes, regional airlines are not included.

rickair7777

Key point: No airline would actually be required to take/grants loans.

Some regionals may even opt to liquidate sooner rather than later to preserve shareholder assets if they assume the cost and risk of trying to fight through this is too high. This scenario is really only likely for non-publicly traded regionals... if a single owner/family has tangible assets in the business (especially cash or anything else disposable), they might prefer to take the money and run rather than try to fight through it and risk peeing it all away. Case study #1: Hulas.

The aid offer might not apply to furloughs which already occured, ie maybe they can take the grants/loans and the strings only apply to current active employees. That's something that may need to get worked out, but I suspect worst case ANYONE furloughed due to COVID will be covered by some sort of reduced pay or enhanced unemployment benefit provision, even if the furlough occurred before the aid package.

CPZ/TSA... they were getting shut down anyway, but might be able to make a claim since the process appears to have been expedited due to COVID.

rickair7777

How are they not included? I have not read it yet.

Does the fine-print say "Major airlines only, regionals not eligible"

So Sunny is eligible but SKW is not?

Are eligible airlines specifically spelled out by name?