Argentina's two low-cost airlines on Tuesday accused its Peronist government of lying about whether the implementation of an air travel ban to combat the coronavirus had been discussed with the industry beforehand. Earlier this week, Argentina prohibited all commercial flights and ticket sales until Sept. 1, making for one of the toughest travel bans currently in place around the world.
This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal. General Electric Co. (GE) for decades was the ultimate conglomerate, selling everything from microwave ovens to movies to mortgages. But after a series of financial and operational setbacks, it shed businesses and bet much of its future on the aviation industry.
General Electric Co. (GE) for decades was the ultimate conglomerate, selling everything from microwave ovens to movies to mortgages. But after a series of financial and operational setbacks, it shed businesses and bet much of its future on the aviation industry. Now that the coronavirus pandemic has crippled airlines, GE finds its turnaround efforts have stalled and its future is shrouded by uncertainty.
The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers, bringing to $12.4 billion provided to the airline sector hit hard by the coronavirus pandemic. In total, the government has disbursed grant funds to 10 major airlines and 83 smaller carriers.
The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers, bringing to $12.4 billion the total provided to the airline sector hit hard by the coronavirus pandemic. In total, the government has disbursed grant funds to 10 major airlines and 83 smaller carriers.
The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers, bringing to $12.4 billion the total provided to the airline sector hit hard by the coronavirus pandemic. In total, the government has disbursed grant funds to 10 major airlines and 83 smaller carriers.
The government could be the 4th- largest shareholder in United Airlines, putting it in the ballpark of Warren Buffett's stake. The U.S. taxpayer will be a major player in the struggling airline industry, as many carriers are set to receive government aid with conditions as they grapple with the fallout from the COVID-19 pandemic. The aid will help provide a cushion for the industry in the form of payroll support and low-interest loans, as airlines try to wait out the crisis, which is...
Thailands budget and full-service carriers are seeking soft-loans worth 25 billion baht from the government to support their businesses amid the coronavirus outbreak, an airline executive said on Friday. Commercial air travel has all but stopped as the coronavirus continues to spread and Southeast Asia's second-largest economy stands to lose 1.3 trillion baht, most of it in the tourism sector.
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Although airlines have started receiving the first tranches of government aid, the stocks are sinking despite the broader stock market rally. United Airlines Holdings Inc.' s stock paced the group's selloff, by plunging 8.8%, after the company said late Tuesday that a public offering of 39.25 million shares, which would represent about 16% of the shares outstanding, priced at $26.50 a share. That was 4.9% below Tuesday's stock closing price of $27.88.
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