American Airlines Holdings Inc intends to apply for up to $12 billion in government aid, ensuring no involuntary layoffs or pay cuts in the next six months, executives said in a memo to employees on Monday. American is eligible for about $6 billion in payroll grants and $6 billion in loans under a stimulus package meant to help airlines and other businesses weather a downturn from the coronavirus. Between the government funds and its own cash position, American will be able to fly “through even the worst of potential future scenarios,” Chief Executive Doug Parker and President …read more
Source:: Yahoo Finance
