DALLAS — The Treasury Department wants airlines to say how they will compensate the government for $25 billion in grants used to keep employees on the payroll during the coronavirus outbreak. The economic-relief bill passed last week gives the Treasury Secretary the power to take an equity stake in airlines that get taxpayer help. The law provides money for grants and another $25 billion in loans or loan guarantees for passenger airlines hurt by the severe drop in travel from the outbreak. The Treasury Department warned airlines in a document posted Monday night to apply for aid by late Friday or face delays in processing their requests. If they fail to apply by April 27, they could be shut out.

Source: International New York Times March 31, 2020 17:09 UTC