American gets most as biggest airlines win bulk of US aid

Five major airlines have received the lion’s share of federal aid Treasury Secretary Steven Mnuchin has approved in the past six weeks as the industry copes with an economy forced to shut down by the coronavirus pandemic. American Airlines Groupis the biggest recipient, getting $5.8b in payroll assistance from the federal government, according to details the Treasury Department released Tuesday. The agency posted a table listing the participants and some loan details for its airlines payroll assistance program on its website. Mnuchin has approved $25b in payroll assistance for 352 applicants, which included contractors, passenger and cargo carriers, the Treasury said. The data posted is current as of April 27 and accounts for about $23b that has gone out from the $35b set aside for payroll support. The program, part of the $2.2t virus stimulus passed by Congress, is intended to keep employees at passenger carriers, cargo hauler and airline contractors on the job. Most of that money was disbursed within a one-week period last month. An additional $2 billion has been committed for use since the end of April, according to an agency spokeswoman. The website will be continue to be updated. “Treasury is committed to the highest standards of public transparency as we provide this critical relief,” Mnuchin said.<br/>