Alaska Airlines secures loans; casinos in NJ reopening

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus.

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FINANCIAL AID: Alaska Airlines has secured nearly $1.2 billion in private loans to further secure its financial stability. The debt financing will be funded on or around Thursday.

The company will use 61 of its owned aircraft as collateral to back the debt. This includes 26 Boeing 737-800s, 16 Boeing 737-900ERs and 19 Embraer 175s. The aircraft will remain encumbered until the debt is repaid.

McGee Air Services, a wholly owned ground services subsidiary of Alaska Airlines that operates independently, has also received nearly $30 million in funding. This is in addition to the $992 million in the form of a $725 million grant and a $267 million loan that Alaska Airlines and Horizon Air jointly received to be exclusively used to pay employee salaries, wages and benefits through Sept. 30.

The airline sector is trying to regain its footing by securing loans, expanding routes and increasing capacity.

ROLL OF THE DICE: For the first time in 108 days, slot machines will beep, dice will tumble and cards will be dealt at Atlantic City’s casinos Thursday as they reopen amid a coronavirus pandemic that has drastically changed things both inside and outside the casino walls.

Gamblers will not be allowed to smoke, drink or eat anything inside the casinos. They will have to wear masks while in public areas of the casino, and they will have their temperatures checked upon entering.

Five of the nine casinos — Hard Rock, Ocean, Resorts, Tropicana and Golden Nugget — will open their doors Thursday morning, the first day New Jersey allows...