Company News

FACTBOX-A look at first round of U.S. airline aid that expires at midnight

 (Updates Southwest Airlines numbers from company filing here)
    Sept 30 (Reuters) - U.S. airlines are pleading for a second $25 billion bailout from
Washington that would protect jobs for another six months after a current package expires at
    Below are the details of the payroll support program that top carriers received in March
under the first round of the Coronavirus Aid, Relief and Economic Security (CARES) Act, based on
U.S. Treasury data, which was last updated on Sept. 21.
    Under the program, major airlines must repay 30% of the grant funds in the form of
low-interest loans over 10 years and issue Treasury warrants equal to 10% of the value of the
    Airlines were also offered a separate $25 billion in Treasury loans under the CARES Act,
which are not included below.
  AIRLINE      TOTAL        TOTAL         TOTAL        WARRANT     CURRENT
              PAYROLL        NOTE       NUMBER OF       PRICE       PRICE
              SUPPORT     PRINCIPAL      WARRANTS                 
 AMERICAN    $5.81 bln    $1.71 bln     13,703,876     $12.51       $12.29
 AIRLINES DELTA AIR   $5.44 bln    $1.60 bln     6,563,753      $24.39       $30.58
   LINES UNITED     $4.96 bln    $1.46 bln     4,627,141      $31.50       $34.75
 AIRLINES SOUTHWEST   $3.35 bln    $976.1 mln    2,676,331      $36.47       $37.50
 AIRLINES ALASKA    $992.2 mln    $272.2 mln     881,480       $31.61       $36.63
    AIR JETBLUE   $935.7 mln    $250.7 mln    2,639,226       $9.50       $11.33
  AIRWAYS SPIRIT    $334.7 mln    $70.4 mln      500,150       $14.08       $16.10
 AIRLINES HAWAIIAN   $292.4 mln    $57.7 mln      488,477       $11.82       $12.89
 HOLDINGS FRONTIER   $204.9 mln    $31.4 mln       13,016       $241.72       N.A.
 AIRLINES (Compiled by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)