Budget airline operators Frontier Group Holdings Inc. (NASDAQ:ULCC) and Avelo are reportedly among a group of airlines seeking a $2.5 billion relief package from President Donald Trump in exchange for convertible equity stakes in the companies.
Jet Fuel Costs
On Sunday, the Wall Street Journal reported that the airlines were factoring in jet fuel costs remaining above $4/gallon this year. Transportation Secretary Sean Duffy had earlier met with executives from low-cost carriers to discuss the sector’s challenges.
Frontier and Avelo didn’t immediately respond to Benzinga‘s request for comment.
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