The lawmakers say that airlines that are involuntarily cutting workers’ hours may be violating the terms of federal coronavirus aid.
Said Boeing: "The robust demand for the offering reflects strong support for the long-term strength of Boeing and the aviation industry."
In exchange for accepting the funds, carriers have agreed to prohibitions on stock buybacks and layoffs, and limits on executive pay.
The IATA said its revised estimate reflected a ‘significant deepening’ of the coronavirus crisis.
The $25 billion program is aimed at helping U.S. carriers weather the drastic drop in demand caused by the coronavirus crisis.
Nikki Haley resigned from the Boeing board of directors and Chuck Schumer suggested banning share buybacks.
If it happens, the request for loans, grants, and tax relief may come with strings attached.
Fitch Ratings says industry consolidation and profitability should shield carriers from a temporary falloff in demand.
The coronavirus tipped the long-struggling airline over the edge.
The U.S. airline industry's long run of profitabiilty could be at risk if the virus causes a "broad slowdown" in travel.
Other airlines also saw their shares decline amid fears of a global slowdown.
Labor and fuel expenses weighed on the Q4 bottom line but American posted a 5.5% gain in revenue per available seat mile.
