From Investing.com: 2024-05-10 19:15:30

The U.S. Treasury Department plans to auction warrants received from U.S. airlines after $54 billion in COVID-19 assistance. Airlines had to repay $14 billion, with American Airlines receiving $12.6 billion, Delta Air Lines $11.9 billion, United Airlines $10.9 billion, and Southwest Airlines $7.2 billion.

Warrants worth $478 million at Friday’s closing share prices will be auctioned to qualified institutional buyers starting the week of June 3. COVID-19 led to a drastic drop in air travel demand in 2020, causing airlines to struggle. Air travel has since rebounded to pre-COVID levels and could break records this year.



Read more at Investing.com: US to hold auctions to sell airline warrants received during COVID bailouts By Reuters