Southwest in talks on US airline subsidies – Bloomberg (NYSE: LUV)


Southwest Airlines (NYSE: LUV) said it had asked for help from the $ 25 billion purse today to help air carriers cover employee costs, but said talks were underway, Bloomberg reports.

He will not specify the amounts, but indicates that the talks are taking place in the “next days” according to the terms.

It’s hard to talk about a schedule or details with the “happening very quickly” program, but he says the subsidy is an option among the sources of capital she is considering.

The actions are down 7.2% after hours; they fell 3.1% during the regular session.

Earlier in the airlines, Delta said it was burning $ 60 million a day, and United said its revenues were down $ 100 million a day and expected lower revenues 30% in the fourth quarter.

After hours: DAL -10.7%; UAL -7.9%; AAL -4.2%; JBLU -5.1%.

Meanwhile, Berkshire Hathaway revealed that it sold 2.3 million shares of Southwest Airlines (at $ 31.38 – $ 33.97 on average) on April 1 and 2, and sold $ 12.99 million. Delta shares (at $ 22.96 – $ 26.04) during this period. Berkshire’s remaining indirect property in Southwest is 51.3 million shares; Delta’s remaining indirect assets are 58.9 million shares.


Please enter your comment!
Please enter your name here