Bailout bullseye

24 April 2020 By Lauren Silva Laughlin Follow @TheRealLSL

U.S. airlines are getting big government checks. Retailers, restaurants, and energy firms are among those struggling. Breakingviews stacks them up based on their importance to employment, taxes, and other metrics. Banks’ implicit guarantee is warranted. Oil drillers: not so much.

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U.S. Treasury Secretary Steven Mnuchin said he is considering a government lending program for U.S. oil companies looking for federal aid, Bloomberg News reported on April 23. Oil prices have crashed as demand has shrunk due to lockdowns during the coronavirus pandemic.

Ten U.S. airlines plan to participate in the U.S. Treasury Department’s Payroll Support Program, the agency said on April 14. The companies include: Alaska Airlines, Allegiant Air, American Airlines, Delta Air Lines, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, United Airlines, SkyWest Airlines and Southwest Airlines. The airlines will receive loans and grants which in part have to be repaid as their businesses are shuttered due to the Covid-19 virus.

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