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Southwest Airlines Files For U.S. Treasury Aid

Video Credit: Wochit - Duration: 00:30s - Published
Southwest Airlines Files For U.S. Treasury Aid

Southwest Airlines Files For U.S. Treasury Aid

According to Reuters, on Thursday Southwest Airlines announced that they will file an application with the U.S. Treasury department for aid.

They are hoping that the aid will help them survive the sharp drop in travel, as a result of the national coronavirus stay-at-home shutdown.

Southwest has also leaned on 2.3 billion in credit.

Congress recently approved $25 billion dollars in cash grants to U.S. airlines to help with payroll.

With the additional aid that Southwest is seeking, they want to help increase liquidity and provide job security for their employees through Sept.

30.

Many global airlines have announced layoffs, furloughs and sliced capacity, to stay afloat during a time of weak demand.

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