World News

American Airlines applies for U.S. payroll assistance grants

WASHINGTON (Reuters) – American Airlines, the largest U.S. airline, confirmed Friday it has applied to the U.S. Treasury for a chunk of the $25 billion payroll assistance grants approved by Congress last week.

American <AAL.O> did not say how much it sought or what financial instruments it has proposed in compensation for taxpayers. The airline said earlier it expected to be eligible for $12 billion in loans and grants from the $50 billion that Congress has set aside for airline assistance. The U.S. Treasury asked airlines to apply for grants by 5 p.m. EDT Friday.

(Reporting by David Shepardson; Editing by Chizu Nomiyama)