U.S. COVID-19 help ‘saved’ business By Reuters

© Reuters. FILE PHOTO: Flanked by different airline executives, American Airways CEO Doug Parker speaks to reporters after assembly with White Home Chief of Employees Mark Meadows in Washington, U.S., September 17, 2020. REUTERS/Kevin Lamarque

WASHINGTON (Reuters) – American Airways (NASDAQ:) Chief Govt Doug Parker will inform a U.S. Senate committee that $54 billion in COVID-19 U.S. authorities help “saved the airline business,” in response to testimony seen by Reuters.

Parker is about to testify alongside the chief executives of Southwest Airways (NYSE:) and United Airways on Wednesday.

He’ll inform the panel that had Congress structured all the help as authorities loans most airways “would have survived by shutting down flying in April 2020, furloughing virtually all of our groups, and ready for demand to return to ranges sturdy sufficient to justify restoring flying. Because it seems, that will have been someday in 2021.”

Disclaimer: Fusion Media want to remind you that the info contained on this web site shouldn’t be essentially real-time nor correct. All CFDs (shares, indexes, futures) and Foreign exchange costs will not be supplied by exchanges however quite by market makers, and so costs might not be correct and will differ from the precise market worth, which means costs are indicative and never applicable for buying and selling functions. Due to this fact Fusion Media doesn`t bear any duty for any buying and selling losses you would possibly incur on account of utilizing this information.

Fusion Media or anybody concerned with Fusion Media won’t settle for any legal responsibility for loss or harm on account of reliance on the data together with information, quotes, charts and purchase/promote indicators contained inside this web site. Please be totally knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is without doubt one of the riskiest funding types potential.

What do you think?

Written by colin


Leave a Reply

Your email address will not be published. Required fields are marked *



Newest information updates: US Covid instances hit 50m on eve of vaccine rollout anniversary

Wall Road ends down; traders eye Omicron and Fed assembly By Reuters