March 27, 2020 / 9:51 PM / in 2 months

U.S. airlines expect clarity on terms of payroll grants in 5-10 days: UAL senior executives

CHICAGO (Reuters) - U.S. airlines expect to learn the terms of federal aid meant to protect workers’ payrolls in the midst of a sharp downturn from the coronavirus in the next five to 10 days, senior executives at United Airlines Holdings Inc said on Friday.

Under a relief bill approved Friday, U.S. Treasury Secretary Steve Mnuchin can demand equity, warrants or other financial instruments to compensate taxpayers, but executives have said they trust the terms would not be so onerous that they could not take the aid.

Reporting by Tracy Rucinski; Editing by Chris Reese

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