Exclusive: Treasury wants warrants, repayment from major U.S. airlines on 30% of grant money – sources

Exclusive: Treasury wants warrants, repayment from major U.S. airlines on 30% of grant money – sources

Mnuchin spoke with the chief executives of major airlines in separate calls on Friday and told them the department was offering 70% of the aid in grants that would not need to be repaid, and 30% in low-interest loans for which the airlines would be required to offer warrants, the sources said.. The interest rates would rise over time if airlines had not repaid them, the sources said.. On Sunday, Alaska'a largest regional carrier, RavnAir filed for Chapter 11 bankruptcy, laying off nearly its entire staff and grounding all of its 72 planes.. Congress have pressed Treasury to grant the assistance quickly and without requiring unreasonable conditions on airlines that are struggling.. Reuters reported on Thursday that the six largest U.S. airlines - American Airlines, United Airlines, Delta Air Lines Southwest Airlines Co, JetBlue Airways Corp and Alaska Airlines - are expected to get around 90% of the $25 billion package..