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    US airlines facing ‘Thelma and Louise’ moment as government aid set to expire

    US airlines are facing what one leading analyst calls a “Thelma and Louise” moment as the industry approaches a government-funding deadline that could decide its future.On 30 September a government aid packages used to protect workers expires, the airlines have already announced huge layoffs but what comes next could be even worse.“I don’t think people get the Thelma and Louise analogy here. The car is up to speed, it’s headed toward the cliff and we know what happens next because you’ve seen the movie,” said industry analyst Robert Mann.Along with leisure and retail, the airline industry has been one of the most direly affected by the Covid-19 pandemic. Passenger numbers are down 70% and the loss of business and frequent flyer travelers has pushed revenue down by as as much as 85%.In March, airlines were offered two sources of money as part of the US government’s coronavirus stimulus package, the Cares Act. The act gave the industry $25bn in loans to cover general costs and $25bn to keep workers on payroll. The payroll cash is made up of grants that don’t need to be paid back but the loans come with strings attached.Airlines will have to give the US government some equity stake in return for the loans. Some airlines, including American, Hawaiian Airlines and Spirit Airlines have agreed to take the cash. Others including Delta, United and Southwest, have yet to decide whether they will tap the loans. More

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    $2tn US coronavirus relief comes without climate stipulations

    Airlines get $60bn bailout, but Pelosi’s proposal on halving of emissions by 2050 not included Coronavirus – latest US updates Live global updates See all our coronavirus coverage American Airlines aircraft at Ronald Reagan Washington national airport, Arlington, Virginia. The US aviation industry is to receive $60bn in the government’s coronavirus relief package. Photograph: Michael […] More

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    $1,200 checks for all? What you need to know about the US coronavirus bailout

    US government is debating bill of to $1.8tn for money going to businesses, corporations and into the pockets of Americans With swaths of the US on lockdown, stock markets crashing, industries facing collapse and unemployment certain to soar the US government is debating the biggest bailout since the 2008 financial crisis. Here’s what you need […] More

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    US airlines pushing for massive bailout gave $45bn to shareholders in five years

    Delta, American, United, Southwest and Alaska want help Top airlines handed out billions to investors and executives The United States’ five largest airlines – which are pushing for a $50bn-plus bailout to help them survive the Covid-19 crisis – have handed out more than $45bn to shareholders and executives over the last five years, research […] More

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    Coronavirus: airlines face meltdown as global travel bans multiply

    American Airlines to scrap most long-haul flights while Australia orders all arrivals to self-isolate and Spain goes into lockdown Coronavirus – latest updates The international travel industry faces a widespread shutdown over coronavirus fears after airlines announced new flight reductions and more countries introduced travel bans and isolation requirements. Travel businesses were hit with multiple […] More