Hawaiian Airlines received $89.8 million on Friday as its first installment out of $179.7 million that it will get from the Payroll Support Program 3 agreement with the U.S. Treasury. The money is to be used exclusively for continuing to pay employee salaries, wages and benefits.
Under the PSP3 agreement, the company has agreed to refrain from conducting involuntary furloughs or reducing employee rates of pay or benefits through Sept. 30, limit executive compensation through April 1, 2023, and suspend dividend payments and stock repurchases through Sept. 30, 2022.
The remaining installment is anticipated to be paid in the second quarter of this year, with a possible final payment based on any adjustments by the Treasury to the initial expected total payment.
Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.
"payment" - Google News
April 26, 2021 at 12:19PM
https://ift.tt/3euydEi
Hawaiian Airlines gets $89.8 million federal payment - Honolulu Star-Advertiser
"payment" - Google News
https://ift.tt/3bV4HFe
https://ift.tt/2VYfp89
Bagikan Berita Ini
0 Response to "Hawaiian Airlines gets $89.8 million federal payment - Honolulu Star-Advertiser"
Post a Comment