JetBlue gets up to $1.14 billion in loans from U.S. Treasury under CARES Act

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JetBlue Airways Corp. shares rose 3.8% in premarket trade Thursday, after the carrier said the U.S. Treasury has agreed to extend loans of up to $1.14 billion until March 26, under the CARES Act. The airline drew down $115 million of the loan agreement on Sept. 29, JetBlue said in a regulatory filing. It has issued warrants to the Treasury to purchase 1.21 million shares, as part of the CARES Act agreement. JetBlue also received a payment of $27.1 million on Sept. 30 from the Treasury under the Payroll Support Program Agreement. The airline issued warrants for an additional 85,650 shares in return for the PSP loan. Shares have fallen 39% in 2020.
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