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[reminder]

Alaska Airlines And Horizon Air To Receive Almost $1 Billion In Aid

Alaska Airlines received $992 million in federal funding through the Payroll Support Program (PSP) under the CARES Act, which was announced in April 2020. This funding included $267 million in a loan that must be repaid, along with the U.S. Department of Treasury acquiring 847,000 non-voting shares of Alaska Air Group at $31.61 per share. The funds were intended to support 70% of the airline’s budgeted costs through September 30, 2021, and helped prevent involuntary furloughs or pay cuts for employees during that period.
Additionally, Alaska Airlines applied for an extra $1.128 billion in federal loans under the same act to support ongoing operations.

https://simpleflying.com/alaska-horizon-1-billion/