Poll: Do you think the U.S. Treasury’s terms for payroll aid repayments are...

The terms of the agreement in principle reached between 10 airlines and the U.S. Treasury Department regarding $25 billion in payroll assistance provided under the Coronavirus Aid, Recovery, and Economic Security (CARES) Act surprised industry-watchers, many of whom had previously expected the aid to consist entirely of grants.  

Under the new agreement in principle, payroll aid will now consist of 70% grants and 30% unsecured term loans. The loans have terms lasting 10 years, and can be repaid early anytime at par. It is not clear yet what interest rate will be charged, but carriers have disclosed that they will be low-interest loans.

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