Demanding what they claim is necessary to remain solvent and save the 750,000 jobs that maintain the industry, United Airlines, American Airlines, Delta Airlines, and Southwest Airlines want $29 billion in cash handouts and another $25 billion in loans from American taxpayers. The current House stimulus bill would give $37 billion in grants and $21 in loans with zero percent financing.
When asked about the proposed bailout package, Trump said in a press conference, “We’re going to look at it very strongly.” “We’re going to back the airlines 100%,” he said.
Since the Trump administration is considering as much as $900 billion in economic relief due to COVID-19, it’s certainly realistic that the airlines will get what they’re asking for.
To be sure, the airline industry is critical to the world economy and drives millions of jobs. The bailout would be easier to stomach, though, if the major airlines hadn’t spent 96 percent of their free cash flow, or