American Airlines at head of line for latest airline bail out

by   CIJ iDesk I
2020-07-03   14:21
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The U.S. government is holding firm against calls to provide a few extra hundred dollars in support for Americans who have lost their jobs because of the coronavirus crisis, but it's lining up billions in charity for corporations such as American Airlines Group, Frontier Airlines, SkyWest and Spirit Airlines. The bail out talks for the airlines comes at the exact moment as airlines are seeing a huge increase in people taking flights and a frightening spike in new coronavirus cases. In all, five airlines signed letters of intent with the Treasury department that would enable them to take out loans under the Cares Act. But American is the biggest of these and appears to be running out of time if it wants to avoid Chapter 11 bankruptcy proceedings. American will be flying 25 percent fewer long-haul international flights next year than it did in 2019. The number of people flying per day jumped from less than 100,000 per day to more than 600,000.