US: Trump suggests airline aid package could restrict stock buybacks

President Donald Trump supports imposing stock buyback restrictions on companies that receive financial aid as part of the federal govt’s coronavirus recovery package. Airlines and Boeing, which have been criticised for spending billions of dollars repurchasing their own stock during recent boom years, are among US businesses seeking financial help. “I would demand that there would be no stock buybacks,” Trump said Friday. “I don’t want them taking hundreds of millions of dollars and buying back their own stock.” Trump’s comments come the day after the US Senate released an economic package that would provide US airlines up to US$58b in collateralised govt loans and loan guarantees. The Senate bill does not prohibit stock buybacks, though the ultimate aid package could change. <br/>