Lufthansa's CEO says that, "The longer this crisis lasts, the more likely it is that the future of aviation cannot be guaranteed without state aid."
Well, federal aid appears to be coming to U.S. airlines, after they made a plea to Congress yesterday, asking for a $60 billion bailout in order to avoid massive disruption and layoffs of up to 750,000 workers.
This morning, the president's trade advisor, Peter Navarro, said most of that $60 billion request will be included in the form of loans to major industries that are included in the stimulus bill Congress is expected to pass this week.
Navarro says that, "In terms of impacts and industries, it looks like about a $200 billion collaterized loan program. I think probably around 25% of that will go to the airlines with the rest spread out."
Is that wishful thinking?
En route to a meeting with House and Senate leaders this morning to put the final touches on the stimulus package, Speaker Pelosi said, "From my standpoint, we're apart." Then after the leadership meeting was done, she questioned whether there will be a vote on Monday.
Leader McConnell is worried that House Democrats are making 11th hour changes to the bill, to include more worker protections.
"One House Democrats for example said, 'this is a tremendous opportunity to restructure things to fit our vision.' That's not what this is about."
McConnell remains confident that most rank and file Democrats are on board, and that a vote will happen Monday.
Speaker Pelosi, not so much.
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