US Treasury to tap Wall Street advisory firms on airline aid – WSJ
|The US Treasury Department plans to hire PJT Partners Inc Moelis & Co and Perella Weinberg Partners to advise on the airline portion of Washington’s $2 trillion stimulus bill, the Wall Street Journal reported on Wednesday, Reuters News reported.
Each firm is likely to advise on aid to one of three subsectors: commercial airlines, cargo carriers and firms critical to national security, such as Boeing Co (BA.N), the report said, citing people familiar with the matter.
The appointments could be disclosed this week, WSJ said, adding the plans are yet to be finalized.
US House Speaker Nancy Pelosi urged the Treasury earlier in the day to not hold up $25 billion in cash grants approved by Congress last week to airlines for payroll costs.
Markets bleeding out
-
Wall Street Close: Bruising losses in US stocks resulting in the worst start to a quarter on record
-
Asian shares drowning in Wall Street's sea of red
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.