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Thu Apr 2, 2020, 07:32 AM

Southwest Airlines to apply for aid with U.S. Treasury after demand craters

Source: Reuters

BUSINESS NEWS APRIL 2, 2020 / 7:22 AM / UPDATED 5 MINUTES AGO

(Reuters) - Southwest Airlines Co (LUV.N) said on Thursday it intends to file an application with the U.S. Treasury department for aid related to the disruption caused by the coronavirus pandemic.

The aid could be in form of grants that could boost liquidity and provide job security for its employees from April 1 through Sept. 30, 2020, Southwest said.

The company also drew down $2.33 billion in credit, as airlines move to shore up liquidity during the outbreak, a regulatory filing showed. (bit.ly/2R2K6pO)

Reporting by Sanjana Shivdas in Bengaluru; Editing by Bernard Orr

Read more: https://www.reuters.com/article/us-health-coronavirus-southwest/southwest-airlines-to-apply-for-aid-with-u-s-treasury-after-demand-craters-idUSKBN21K1KC?il=0



-snip-

The first of many companies trying to stay afloat

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Reply Southwest Airlines to apply for aid with U.S. Treasury after demand craters (Original post)
turbinetree Apr 2 OP
a la izquierda Apr 2 #1
Aussie105 Apr 2 #2
marble falls Apr 2 #3
Crowman2009 Apr 2 #4

Response to turbinetree (Original post)

Thu Apr 2, 2020, 07:45 AM

1. I've just booked three flights...

One with Southwest, the others with British Airways. I realize itís spitting in the ocean, but deals are so good right now, and thereís no change fees. I wanted to book before the prices jump, which they will as soon as restrictions are lifted.

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Response to turbinetree (Original post)

Thu Apr 2, 2020, 07:48 AM

2. Every airline on the planet is in the same position.

Wages to pay, aircraft to park but keep ready for service, airport fees to pay.

And no, or very little customer traffic through the door.

Are they all going to run to their respective governments and ask for income replacement therapy?

Yes, they will.

And the answer will be?

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Response to turbinetree (Original post)

Thu Apr 2, 2020, 08:52 AM

3. Not one ficking penny, let them sell stock or trade equity to the government.

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Response to turbinetree (Original post)

Thu Apr 2, 2020, 01:03 PM

4. Unless these airlines are transporting emergency supplies, they don't get a penny!

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