American Airlines Group Inc has announced that the US Department of the Treasury has approved $5.8 billion in financial aid from the Payroll Support Program (PSP).
The funding is aimed to support team member salaries and benefits, sustaining the critical air service that the frontline service is providing. American is still operating important connections to those in need including medical professionals and people returning to their families.
American Airlines Chairman and CEO, Doug Parker commented, “The support our government has entrusted to us carries immense responsibility and an obligation that American Airlines is privileged to undertake.”
The airline is also seeking a potential addition loan of about $4.75billion to support its staff until September 2020, when the programme ends. Parker added, “It is our privilege to continue flying through the downturn and to be in a ready position as our country and the world return to the skies.”