Pelosi says there will be no stand-alone aid for airlines without bigger stimulus bill

A JetBlue Airways Corp. plane taxis next to American Airlines Group Inc., Delta Air Lines Inc., and Alaska Airlines Inc. aircraft at Reagan National Airport (DCA) in Arlington, Virginia, U.S., on Monday, April 6, 2020.

Andrew Harrer | Bloomberg | Getty Images

Airline stocks fell Thursday after House Speaker Nancy Pelosi said there won’t be a standalone bill for additional aid for carriers without a larger coronavirus stimulus package.

Pelosi’s comments come two days after President Donald Trump halted talks for a national coronavirus package until after the election, but urged additional aid for the ailing airline sector.

Airlines last week started furloughing more than 33,000 workers. Carriers agreed not to cut any workers until Oct. 1 under the terms of $25 billion in support Congress approved in the $2.2 trillion CARES Act in March.

The funds were meant to help airlines manage a dip in demand but a significant rebound in air travel demand has failed to materialize. Airlines and labor unions have been urging lawmakers and the Trump administration to approve $25 billion more to preserve jobs through March 2021.

The proposal had won bipartisan support but lawmakers and the Trump administration had repeatedly failed to reach deals on further coronavirus aid.

Airline shares were up earlier in the day on hopes that Congress could advance stand-alone aid for the sector.

American Airlines’ shares were down 1.3% and United Airlines’ were off 0.3%. Southwest Airlines shares were down 0.5% while Delta Air Lines’ were off the day’s highs, up 0.2%.

This is breaking news. Check back for updates.

Source link




Quarantine facility rooms ready today

submitted by /u/kongweeneverdie Source link

Pandemic’s Deadly Toll Behind Bars Spurs Calls For Change In U.S. Jails And Prisons : Coronavirus Updates : NPR

Prisoner's rights advocates are pleading for more action to help stop the deadly toll taken by the...

Vista’s Robert Smith says there are more opportunities in private markets than public right now

Robert Smith, the billionaire chairman and CEO of Vista Equity Partners, said Wednesday that there's a marked disparity in investment opportunities between the...

Ciara, Russell Wilson and ex-Lululemon CEO launch fashion brand

Grammy Award-winning artist Ciara has launched a new fashion company alongside her husband, NFL star Russell Wilson, and former Lululemon CEO Christine Day....

Japan stocks poised to trade higher; Kuaishou set to make Hong Kong debut

SINGAPORE — Shares in Japan were set to trade higher at the Friday open after overnight gains stateside that saw the S&P 500...