U.S. Treasury Secretary Steven Mnuchin is holding calls with airline CEOs throughout the day and could announce details of a $32 billion payroll grant package later this afternoon, people briefed on the matter told Reuters.
While some of the money will be “clean,” Treasury could require companies to repay a portion at a low interest rate that could increase after five years, according to sources.
American Airlines is the most indebted of the top six carriers and could face the toughest terms, the sources said.
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