U.S. to Take Stakes in Airlines in Exchange for Grants

Wall Street Journal: “Treasury Secretary Steven Mnuchin indicated that the U.S. government would take stakes in airline carriers in exchange for billions in direct grants to the companies, part of a $2 trillion economic rescue package.”

“He detailed his plans during last-minute negotiations when the aid to airlines emerged as a major sticking point. Republicans had rejected providing cash grants to airlines, and an earlier version of the legislation would have provided $50 billion in loans and loan guarantees to passenger airlines and $8 billion to cargo airlines—but no direct aid.”