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turbinetree

(24,703 posts) Thu Apr 2, 2020, 07:32 AM Apr 2020

Southwest Airlines to apply for aid with U.S. Treasury after demand craters

Source: Reuters

BUSINESS NEWS APRIL 2, 2020 / 7:22 AM / UPDATED 5 MINUTES AGO

(Reuters) - Southwest Airlines Co (LUV.N) said on Thursday it intends to file an application with the U.S. Treasury department for aid related to the disruption caused by the coronavirus pandemic.

The aid could be in form of grants that could boost liquidity and provide job security for its employees from April 1 through Sept. 30, 2020, Southwest said.

The company also drew down $2.33 billion in credit, as airlines move to shore up liquidity during the outbreak, a regulatory filing showed. (bit.ly/2R2K6pO)

Reporting by Sanjana Shivdas in Bengaluru; Editing by Bernard Orr

Read more: https://www.reuters.com/article/us-health-coronavirus-southwest/southwest-airlines-to-apply-for-aid-with-u-s-treasury-after-demand-craters-idUSKBN21K1KC?il=0

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The first of many companies trying to stay afloat

4 replies

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Highlight:

Southwest Airlines to apply for aid with U.S. Treasury after demand craters (Original Post) turbinetree Apr 2020 OP

I've just booked three flights... a la izquierda Apr 2020 #1

Every airline on the planet is in the same position. Aussie105 Apr 2020 #2

Not one ficking penny, let them sell stock or trade equity to the government. marble falls Apr 2020 #3

Unless these airlines are transporting emergency supplies, they don't get a penny! Crowman2009 Apr 2020 #4

a la izquierda

(11,795 posts)

1. I've just booked three flights...

Reply to turbinetree (Original post)

Thu Apr 2, 2020, 07:45 AM

Apr 2020

One with Southwest, the others with British Airways. I realize it’s spitting in the ocean, but deals are so good right now, and there’s no change fees. I wanted to book before the prices jump, which they will as soon as restrictions are lifted.

Aussie105

(5,402 posts)

2. Every airline on the planet is in the same position.

Reply to turbinetree (Original post)

Thu Apr 2, 2020, 07:48 AM

Apr 2020

Wages to pay, aircraft to park but keep ready for service, airport fees to pay.

And no, or very little customer traffic through the door.

Are they all going to run to their respective governments and ask for income replacement therapy?

Yes, they will.

And the answer will be?

marble falls

(57,106 posts)

3. Not one ficking penny, let them sell stock or trade equity to the government.

Reply to turbinetree (Original post)

Thu Apr 2, 2020, 08:52 AM

Apr 2020

Crowman2009

(2,497 posts)

4. Unless these airlines are transporting emergency supplies, they don't get a penny!

Reply to turbinetree (Original post)

Thu Apr 2, 2020, 01:03 PM

Apr 2020

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