U.S. airlines reached an agreement in principle with the Treasury Department to access billions of dollars in aid as the government attempts to shore up one of the industries hardest hit by the coronavirus pandemic, according to people familiar with the matter.
The deal covers all the big carriers, said one of the people, who asked not to be named because the accord hasn’t been officially announced. Final details are still being worked out with others, said another of the people. The money comes from $25 billion in payroll assistance allocated for passenger carriers in the $2.2 trillion stimulus package signed into law March 27.
