The US Treasury announced on Tuesday evening that it had reached agreements to grant loans to seven major airlines, including American Airlines and United Airlines, in order to save jobs.
But he does not specify whether these agreements will make it possible to suspend the job cuts plans recently announced by these two major carriers.
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The Covid-19 pandemic in the spring caused the virtual paralysis of air transport.
Since the gradual reopening of the economy, air carriers have struggled to get passengers back on their planes and international routes are still extremely small, due to bans decreed by various governments.
Besides American and United, Alaska Airlines, Frontier Airlines, JetBlue Airways, Hawaiian Airlines, SkyWest Airlines have signed the agreement with the Trump administration.
Not surprisingly, Delta Airlines and Southwest Airlines are not part of these new agreements since they had already indicated that they would not take part.
"We are pleased to enter into loans that will support this vital industry while ensuring appropriate compensation for taxpayers,"
US Treasury Secretary Steven Mnuchin said in the statement.
He further called on Congress to expand the support program to support employment for the entire aviation industry.
On the other hand, the Treasury specifies that the signatory companies will obtain their loan
"under certain conditions"
which have not been specified.
He adds that the companies will receive
"a loan of a maximum amount of 7.5 billion dollars or 30% of 25 billion".
In July, the Treasury had indicated that borrowers would have to commit to certain conditions such as maintaining a certain level of employment and ceilings on employee compensation, payment of dividends and share buybacks.
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