Treasury Auctions for Airline Warrants Generate $556 Million to Taxpayers

WASHINGTON – The U.S. Department of the Treasury (Treasury) today announced that taxpayers received $556,685,001 from a series of auctions held from June 3 to 13, 2024, to sell its warrants for common stock of 11 publicly traded airlines. The airlines issued these warrants to Treasury in 2020 and 2021 as partial compensation for financial assistance and loans that Treasury provided to the airlines under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Consolidated Appropriations Act, 2021, and the American Rescue Plan Act of 2021.Treasury auctioned these warrants as part of its continuing post-pandemic efforts to recover value for taxpayers in an orderly, fair, and transparent manner.