The 4 top airlines have spent more than $300M on lobbying since the last bailout. The industry, which received $5B in taxpayer funds & another $10B in loan guarantees after 9/11, is receiving $61B in taxpayer money & guarantees under the $2T stimulus bill.https://www.fastcompany.com/90483154/the-airlines-due-to-get-huge-bailout-have-spent-a-stunning-amount-on-lobbying-since-the-last-one …
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In a letter to congressional leaders, the industry warned that it would “be forced to take draconian measures” if taxpayers didn’t give airlines at least $29B in grants so they could meet payrolls that cover ~750K workers. “Time is running out,” the airline chiefs warned.
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The airline executives have conceded the unpopularity of a bailout and offered in their letter to place limits on executive compensation, as well as eliminating stock repurchases and dividends over the life of the loans. This is certainly an industry to keep our eyes on.
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