Mar 31, 2020

Coronavirus: American Airlines to seek $12bn in state aid

American Airlines has confirmed it will seek $12bn of financial support from the US government because of the impact of coronavirus. Under the massive $2.2tn coronavirus relief bill passed by the US Congress last week, $50bn was set aside for airlines with half given as grants. American Airlines, the world's biggest by passenger numbers, said it hoped to be back to flying a full schedule by then. Global airlines have struggled as countries worldwide have grounded the majority of passenger flights since February as part of efforts to halt the spread of the coronavirus. Another US airline, Delta, has also offered voluntary leave of absence, and carriers outside the US such as Singapore Airlines have unveiled plans to raise funds by tapping share and debt markets with the backing of sovereign investment fund Temasek Holdings.

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