Alaska Air Group Inc. ALK,
He said Thursday that he has raised $ 1.2 billion in private funds, while a subsidiary, McGee Air Services, an independently operating ground services company, has received $ 30 million in Payroll Support Program (PSP) loans. under the Coronavirus Aid, Relief and Economic Security (CARE) Act. Alaska Airlines and Horizon Air have also received $ 992 million, including a $ 725 million grant and a $ 267 million loan, which companies can use exclusively for wages and employee benefits through September 30. Alaska Air’s private loan will be financed on or around July 2, with the company using 61 of its planes as collateral. Series A, a portion of the $ 966 million loan, will be paid before August 15, 2027, and the $ 208 million from Series B will be paid before August 15, 2025. Alaska Air shares rose 3 , 8% in pre-market operations, but has fallen 47.3% for the year to date. The S&P 500 SPX Index,
It is down 3.6% for 2020 so far.
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