I must be missing something.
The airlines want $29 in grants and $25 in loans that don’t indicate 0%. That is equal to $54B of which the $25 will be paid back from the loan at whatever interest rate determined. So the expenditure for the taxpayers is $29 billion with the loan money coming back with interest whatever that is.
The government wishes to give them $37 in grants, and $21 in a no interest loan that will pay back the $21 at no interest. So the expenditure. That tally’s up to costing the taxpayer $37 billion after the cows come home. I see spending $8 billion less on the top plus the interest coming back using what they want rather than what Uncle Sugar is trying to give them.
I don’t understand what the problem is here? The airlines are actually asking for less than the government is trying to give them overall and more up front. And they are appearing the villain?
Airlines are a source of more than just transporting people. United and American Airlines are two of the top 25 cargo carriers in the world. And each of them averaged around 4000 fights last year. There’s a lot not being said in the article. And her reasoning is flawed and inconsistent with the long term effects of the shutdown created by fear rather than numbers.
rwood
They are a critical part of our infrastructure.
That being said, no more buybacks, they need to have cash set aside precisely in case this happens again (and it will!)