U.S. airline shares surged after Treasury Secretary Steven Mnuchin said the administration will help airlines.
Airlines are reeling from a sharp drop in demand as coronavirus spreads.Adam Carver, 38, wears a mask to protect against coronavirus while on a nearly empty Delta flight from Seattle-Tacoma International Airport o JFK on March 15, 2020 near New York City.Several U.S. airlines reversed from multi-year lows Tuesday after Treasury Secretary Steven Mnuchin said the Trump administration is seeking to pass an aid package for the ailing sector and others "very quickly.
The country's airlines are seeking more than $50 billion in government assistance to combat the collapse in air travel demand as the virus spreads and governments take drastic steps, including a recommendation to avoid nonessential travel, to stem the disease's spread.
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