American Airlines passenger planes crowd a runway where they are parked due to flight reductions to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020.
Nick Oxford | REUTERS
Leading congressional Democrats on Sunday urged Treasury Secretary Steven Mnuchin to quickly reach agreements and not place onerous conditions on $25 billion in payroll grants for airlines reeling from the coronavirus pandemic.
Mnuchin last month said taxpayers must be “compensated” for aid given to airlines. Treasury guidelines state the department said it may demand warrants, options, preferred stock or other securities in exchange for the grants. But industry members, unions and others have argued that if the Treasury Department is too aggressive in its demands, such as by insisting on large equity stakes, it could deter airlines from taking the grants altogether.
In addition to payroll grants, Congress also approved $29 billion in loans to…