Mnuchin indicates federal government could take stakes in airlines for government grants
(Worthy News) – Treasury Secretary Steven Mnuchin signaled on Thursday that the federal government could take stakes in airlines in exchange for the billions of dollars that have been set aside for the beleaguered industry in Congress’s $2 trillion coronavirus stimulus package.
Per the version of the bill that passed the Senate late Wednesday night, passenger airlines would receive $25 billion in loans and guarantees, while another $25 billion would come in the form of direct grants. The bill, however, gives Mnuchin the oversight on how these grants are disbursed, and if some sort of compensation is required in return.
Last week, Mnuchin said that the final aid package could include an option for the government to gain equity in the companies that receive direct grants, though he wasn’t specific on the form, The Wall Street Journal reports. [ Source: The Hill (Read More…) ]
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