Airlines must suggest possible U.S. compensation for grants: Treasury

This post was originally published on this site

Airlines and contractors must “must identify financial instruments” that would “provide appropriate compensation,” Treasury said, adding that it could include “warrants, options, preferred stock, debt securities, notes, or other financial instruments issued by the applicant.”

The department told applicants to apply by April 3 at 5 p.m. to receive funds as soon as possible. Congress approved legislation last week authorizing $25 billion for passenger airlines, $4 billion for cargo carriers and $3 billion in cash for airport contractors like caterers and airplane cleaners.