US: Trump says airlines could receive grant details this weekend as sources say around 275 applied

President Donald Trump said Thursday that airlines could receive details this weekend about the terms of a $32b payroll grant to offset the impact of the coronavirus outbreak, which sources told Reuters has received around 275 applicants. “We’ll be probably putting out a proposal and giving them some of the very powerful details over the weekend. It’s moving along quickly. The airline business has been hit very hard,” Trump said following a briefing with Treasury Secretary Steve Mnuchin. “I think it’s going to be a very acceptable package. It’s a very big package,” Trump said, noting it will be “good for the airlines.” Under the $2.3t CARES Act, passenger airlines are eligible for $25b in cash grants for payroll; cargo carriers can get $4b while airport contractors like caterers and airplane cleaners are eligible for $3b. Earlier, Mnuchin said that the airline package would be the next “big thing we’ll be rolling out” as part of the CARES Act, with preliminary information starting on Friday. “And it is our objective to make sure, as I’ve said, this is not a bailout, but that airlines have the liquidity to keep their workers in place,” Mnuchin said.<br/>