Photo: NurPhoto/Getty Images

The U.S. Treasury Department said Tuesday it has closed loans with seven major airlines, and Secretary Steven Mnuchin urged Congress to extend additional aid to the industry to help airlines weather the coronavirus pandemic.

Why it matters: Tens of thousands of workers face layoffs starting Thursday, when an existing federal payroll support program expires. While Democrats and Republicans have voiced support for helping the airline industry, they've been deadlocked in negotiations on a broader package of economic relief.

Details: Congress in March approved $25 billion in federal loans for the industry, which has suffered a 70% drop in air travel because of the pandemic.

  • Because Delta and Southwest opted to tap private markets instead, the Treasury Department said it will make larger loans than expected to some carriers — up to $7.5 billion each.
  • The seven air carriers that accepted taxpayer loans are Alaska Airlines, American Airlines, Frontier Airlines, JetBlue Airways, Hawaiian Airlines, SkyWest Airlines and United Airlines. 
  • In return, the Treasury received equity warrants in each airline.

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Oct 20, 2020 - World

Deals on flights and visas sealed in first official UAE visit to Israel

The delegation lands at Israel's Ben Gurion airport. Photo: Jack Guez/AFP via Getty

The first official visit of UAE officials to Israel took place on Tuesday, a month after the signing of a U.S.-brokered normalization treaty.

What's happening: The two sides signed agreements on direct flights, mutual visa exemptions and investments. The agreements are designed to get relations moving and allow business travelers and tourists to travel freely between the countries as soon as possible, Israeli officials told me.

Dave Lawler, author of World
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U.S.-brokered ceasefire collapses in Nagorno-Karabakh

Volunteer fighters in Stepanakert, the capital of Nagorno-Karabakh. Photo: Aris Messinis/AFP via Getty Images

A U.S.-brokered ceasefire between Armenia and Azerbaijan in the disputed territory of Nagorno-Karabakh crumbled within hours on Monday, leaving the month-old war rumbling on.

Why it matters: Nearly 5,000 people have been killed, according to Vladimir Putin’s rough estimate, including more than 100 civilians. Between 70,000 and 100,000 more are believed to have fled the fighting.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. World: Restrictions grow across Europe.
  6. Media: Fox News president and several hosts advised to quarantine.