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Pelosi says there will be no standalone aid to airlines without major economic costs



A JetBlue Airways Corp. airplane taxi alongside the American Airlines Group Inc., Delta Air Lines Inc. and Alaska Airlines Inc. aircraft at Reagan National Airport (DCA) in Arlington, Virginia, USA on Monday, April 6, 2020.

Andrew Harrer | Bloomberg | Getty Images

Airlines’ shares fell Thursday after House spokeswoman Nancy Pelosi said there won̵

7;t be a standalone bill for additional help to airlines without a major coronavirus stimulus package.

Pelosi’s comments come two days after President Donald Trump suspended talks on a national coronavirus package until after the election, but urged additional help to the ailing aviation sector.

Airlines began taking more than 33,000 workers off leave last week. The airlines agreed not to cut any workforce until October 1st. Congress was approved under the CARES Act in March for $ 2.2 trillion.

The funds were supposed to help airlines cope with a fall in demand, but there has not been a significant increase in demand for air travel. Airlines and unions have urged lawmakers and the Trump administration to approve an additional $ 25 billion to keep jobs through March 2021.

The proposal had received bipartisan support, but lawmakers and the Trump administration had repeatedly failed to reach an agreement on further coronavirus aid.

Airlines’ shares rose earlier in the day in hopes that Congress could push ahead with self-help to the sector.

American Airlines shares were down 1.3% and United Airlines shares were down 0.3%. Southwest Airlines ‘shares were down 0.5% while Delta Air Lines’ shares were down 0.2% from the daily high.

This is the latest news. Check for updates again.


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