JetBlue to receive $936 million in payroll support under CARES Act

JetBlue Airways Corp. JBLU, -0.74% said late Friday it will receive $935.8 million from the U.S. Treasury Department under the Payroll Support Program as part of the CARES Act. That includes a grant of $685.1 million and a loan of $250.7 million, the airline said in a filing. Under the agreement, JetBlue issued warrants to the government to buy 2,639,226 shares of common stock at $9.50 a share. JetBlue said that it drew down all $550 million in its revolving credit facility on Wednesday, with no additional borrowing capacity. Shares of JetBlue rose 0.9% in the extended session Friday after ending the regular trading day down 0.8%.
https://www.marketwatch.com/story/jetblue-to-receive-936-million-in-payroll-support-under-cares-act-2020-04-24