US Treasury sends first airline aid payments

The Trump administration on Monday sent out the first payments meant to help save airline jobs as the industry is ravaged by the effects of the coronavirus pandemic, Report informs, citing foreign media.

The US Treasury sent the first US$2.9 billion of the plan – agreed upon last week after hard-fought negotiations – to two major airlines and 54 smaller passenger air carriers, including Delta Air Lines, Americans Airlines, United Airlines, and Southwest Airlines.

Treasury Secretary Steven Mnuchin meanwhile said he was "working with the airlines to finalize the necessary agreements and disburse funds as quickly as possible."

In his statement, Mnuchin said the deal "will support American workers and help preserve the strategic importance of the airline industry while allowing for appropriate compensation to the taxpayers."