U.S. Senate coronavirus bill to help airlines with grants: CNBC

US

American Airlines passenger planes crowd a runway where they are parked due to flight reductions to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. REUTERS/Nick Oxford

WASHINGTON (Reuters) – U.S. airlines would receive direct grants and would not be able to lay off employees for a set time under the coronavirus relief legislation agreed to by the U.S. Senate on Wednesday, according to a CNBC report.

The U.S. government would take an equity share in airlines receiving federal funds, according to the report. The $2 trillion stimulus package would provide payroll tax cuts for employers, but that would need to be paid back in coming years, it said.

The Senate bill also contains provisions to prohibit entities controlled by President Donald Trump from taking advantage of aid.

Reporting by Doina Chiacu; Editing by Bernadette Baum

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