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Delta planes sit idle at Kansas City International Airport on April 3 in Kansas City, Missouri. Photo: Jamie Squire/Getty Images

Small to medium airlines receiving bailouts of up to $100 million from the $2.2 trillion coronavirus rescue package will not have to provide the federal government with compensation or equity stakes, the Treasury Department announced Friday evening.

Why it matters: The airline industry got a $58 billion lifeline in the federal aid package, but the sector's operations and prospects will be forever changed by the global pandemic. Approximately 230 air carriers have applied for payroll assistance, the department said.

What they're saying: “The Payroll Assistance Program is critical to providing much-needed relief to Americans who work in the aviation industry,” Treasury Secretary Steven Mnuchin said in a press release.

  • “Small and medium-sized passenger aviation businesses are particularly vulnerable to the disruption from COVID 19. This determination will provide significant support to workers and businesses across the country, while also appropriately compensating taxpayers.” 

What's next: The department is currently working with 12 passenger air carriers — larger airlines — that are seeking more than $100 million in assistance. Those airlines will need "to secure appropriate financial instruments to compensate taxpayers," Mnuchin said.

Go deeper: Airline industry braces for a forever-changed world

Go deeper

Updated 24 mins ago - World

Fatal stabbing of British MP David Amess declared a terrorist incident

Police outside Belfairs Methodist Church in Leigh-on-Sea, England, on Oct. 15. Photo: John Keeble/Getty Images

Authorities have declared the death of David Amess a terrorist incident, hours after the Conservative Party lawmaker in the U.K. was fatally stabbed while meeting with local constituents in a church in eastern England on Friday.

The big picture: The Metropolitan Police has found "a potential motivation linked to Islamist extremism."

Biden: DOJ should prosecute those who defy Jan. 6 subpoenas

President Biden speaks with reporters at Bradley International Airport in Windsor Locks, Connecticut. Photo: Brendan Smialowski/AFP via Getty Images

President Biden said Friday that the Justice Department should prosecute those who defy subpoenas from the Jan. 6 select committee.

Why it matters: The president's remarks come one day after Donald Trump ally Steve Bannon failed to show up for a deposition before the committee.

Updated 2 hours ago - Politics & Policy

Bill Clinton hospitalized for non-COVID-related infection

Former President Bill Clinton. Photo: Win McNamee/Pool/AFP via Getty Images

Former President Bill Clinton was admitted to the University of California, Irvine Medical Center on Tuesday for a non-COVID-related infection, his spokesperson Angel Ureña said Thursday.

The latest: In an update on Friday, Ureña said Clinton's health indicators are "trending in the right direction, including his white blood count which has decreased significantly."