Airlines would get the $60 billion bailout they asked for in the new Senate coronavirus stimulus bill, which would prohibit layoffs and ban stock buybacks and dividends (AAL, DAL, UAL, LUV, JBLU)

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• A bipartisan coronavirus aid package in the Senate offers $58 billion to the nation's airlines, split evenly between loans and payroll grants.
• The coronavirus bailout package, which aligns with requests made by US airlines, would prohibit stock buybacks and share dividends for at least a year after the loans have been repaid. It also restricts executive compensation.
• Airlines would be prohibited from laying off or furloughing employees through September, should the crisis for air carriers continue past then, effectively protecting "hundreds of thousands of jobs," one union official said.
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Airlines will receive nearly $60 billion in financial assistance as part of the Senate's rescue package, meeting their request as the industry falls into a tailspin due to the coronavirus pandemic.

The bill grants $25 billion in loans and loan guarantees for passenger airlines, and an additional $4 billion for cargo air carriers.

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See Also:

• Boeing is expected to get billions of dollars in bailouts from the Senate, despite backlash over the 737 Max crisis and past stock buybacks
• Airlines could completely shut down flights in the US as the coronavirus rages on
• US airport and airline contractors are being laid off nationwide and risk being forgotten in a bailout plan meant to protect workers

SEE ALSO: Boeing is expected to get billions of dollars in bailouts from the Senate, despite backlash over the 737 Max crisis and past stock buybacks

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