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U.S. COVID-19 aid ‘saved’ industry -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – American Airlines CEO Doug Parker talks to journalists after meeting Mark Meadows, Chief of Staff at the White House, Washington, U.S.A, September 17th 2020. REUTERS/Kevin Lamarque

WASHINGTON (Reuters] – American Airlines Chief Executive Doug Parker tells a U.S. Senate panel that $54 billion of COVID-19 U.S. government assistance “saved” the airline sector, according to testimony seen at Reuters.

Parker will be appearing alongside chief executives from Southwest Airlines (NYSE) and United Airlines, on Wednesday.

Panelists will be told by him that Congress could have structured the assistance as loans to most airlines. He said that the majority of the companies would have shut down their operations in April 2020. Then, they would furlough almost all of the employees and wait for the market to recover. That would have occurred in 2021, as it turned out.

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