Mnuchin says no plans for more virus rescue money for airlines

Treasury Secretary Steven Mnuchin said he isn’t considering providing additional money to help airlines reeling from the impact of Covid-19. US airlines reached deals to access a share of $50 billion in federal payroll assistance to bridge funding gaps as the industry waits for customers to start flying again. Companies accepting the aid can’t furlough or reduce wages for workers until Sept. 30. “At the moment there are no thoughts for changing those restrictions or additional money,” Mnuchin said Wednesday. “This money was critical to keep the airlines together, which was important for national security.” Airline analyst Helane Becker of Cowen & Co. said as many as 105,000 jobs could be lost in the industry unless there’s a quick improvement in demand. “We’ve struck the right balance of both payroll support and offering them lending facilities which will also create additional liquidity,” Mnuchin said. Airlines can also turn to the Federal Reserve for support, he said.<br/>