Airlines Leave $29 Billion Aid Fund Untapped in Bet on Rebound
By Saleha Mohsin and Ryan Beene
May 29, 2020, 4:39 PM
U.S. airlines have yet to tap $29 billion in federal pandemic relief loans as they wait to see whether the reopening of the economy revives demand and diminishes the need for money that comes with government strings attached.
Although the four largest U.S. passenger airlines have applied for the Treasury Department program, only American Airlines Group Inc. has said it intends to tap the pool of funds. Southwest Airlines Co., United Airlines Holdings and Delta Air Lines Inc. say they plan to wait until fall before deciding whether to take the money -- after a summer travel season that...