US Treasury Obtains Over $556 Million From Airline Stock Warrants Auction

The COVID pandemic was bleak for the global aviation industry, with air travel collapsing as much as 90%. Aircraft are incredibly expensive and unable to fly, and airlines would go bankrupt in short order. The US government stepped in and injected billions into the industry to keep it afloat and get it through the pandemic. As a sign that the airline industry is rebounding, the US Treasury Department stated it has received $556.7 million in proceeds from auctions. This follows on from earlier reporting that the Treasury planned to sell off COVID-era airline stock warrants. They had been expected to generate a little under $500 million.