US airlines turn eyes to expected new House coronavirus relief proposal

US airline unions expressed hope on Thursday that Congress could strike a deal in the coming days that would provide $25b to prevent tens of thousands of furloughs on Oct. 1 after the US Treasury chief said he could not act unilaterally to save airline jobs. A new Democratic-proposed House bill is expected to provide $2.4t in coronavirus relief that would include funds for airlines and restaurants, a congressional aide said, down from $3.4t approved in May. That figure is still far above the $300b Senate Republicans backed earlier this month. While the White House has repeatedly said it would seek executive action to help airlines if Congress failed to pass a deal, Treasury Secretary Steven Mnuchin told Congress on Thursday he cannot tap unused coronavirus lending authority to provide cash grants to airlines. “Is there anything that you have under existing authorities, either the CARES act authorities, or prior law, that could help the airlines avoid these coming layoffs?” Republican Senator Tom Cotton asked Mnuchin. “Unfortunately there is not,” Mnuchin said. He added the funding from Congress approved in March “literally saved the entire industry.” Many congressional aides and some airlines are pessimistic about the prospects of a new bailout.<br/>