Tag Archives: CARES

American repays Cares Act loans with new funding | News

American repays Cares Act loans with new funding | News

American Airlines has completed a $10 billion financing deal backed by its AAdvantage program. The carrier said it would use a portion of the proceeds to prepay its secured loan from the United states department of the treasury. In doing so, American has terminated its loan commitments under the secured loan agreement. The Coronavirus Aid, […]

American warns of impending job losses as Cares act expires | News

American Airlines reports huge loss for second quarter | News

American Airlines has said it will cut as many as 19,000 jobs in October when a government wage support scheme expires. The coronavirus aid, relief and economic security act, also known as the Cares act, was extended to airlines during the early stages of the pandemic, with domestic carriers receiving around $25 billion in total. […]

American Airlines cuts 15 domestic routes as CARES act expires | News

American Airlines reports huge loss for second quarter | News

American Airlines has said it will adjust its October schedule to remove service to 15 markets across the United States. The carrier blamed the decision on low demand and the expiration of the air service requirements associated with the coronavirus aid, relief and economic security (CARES) act. Services to Del Rio (Texas), Dubuque and Sioux […]

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