US Department of the Treasury proposes USD50bn in loans for US carriers

US Department of the Treasury proposed (Mar-2020) to appropriate USD50 billion to the Exchange Stabilization Fund (ESF) for secured lending to US passenger and cargo carriers. The Treasury stated it would determine the suitable interest rate and other conditions, as well as specify the collateral. Borrowers would be required to limit the increase in executive compensations until loans are repaid and provide the department with specified continuation of service requirements. [more - original PR]