you could tell your friend to invest in American Airlines
https://www.marketwatch.com/story/1...-democratic-aid-plan-11612892987?mod=airlines
Capitol Report
$15 billion for airline industry called ‘first surprise’ in Democratic aid plan
Published: Feb. 9, 2021 at 12:49 p.m. ET
By Victor Reklaitis
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‘This should be a reminder to investors … that the plan Congress approves will be similar to, but not a carbon copy of, the Biden plan,’ analyst says
An American Airlines Boeing 737 MAX airplane takes off on a test flight from Dallas-Fort Worth International Airport in December. AFP VIA GETTY IMAGES
Draft legislation from congressional committees started coming out Monday for Democrats’ big COVID-19 relief package, with the House Financial Services Committee revealing plans to provide $14 billion in aid to airlines for payroll costs, along with $1 billion for airline contractors.
The additional “Payroll Support Program” money for the airline industry counts as the “first surprise” as Democratic-run committees begin the work of writing the relief bill, said Height Capital Markets analyst Hunter Hammond in a note on Tuesday.
“We are a bit surprised at the inclusion of airline aid, given that it was not a part of the Biden American Rescue Plan, but this should be a reminder to investors (and ourselves) of what we wrote last month – that the plan Congress approves will be similar to, but not a carbon copy of, the Biden plan,” Hammond said.
Airline stocks such as American AAL, -1.86% and United UAL, -2.32% jumped Monday, but shares in U.S. carriers were pulling back Tuesday, with the U.S. Global Jets ETF JETS, -0.89% down 0.6%.
Draft legislation from another House committee unveiled Monday also contained other transportation-related aid, including $8 billion for airports, $30 billion for transit agencies, $1.5 billion to Amtrak and $3 billion for aviation manufacturers’ payroll costs.
President Joe Biden said Friday that he would prefer to have Republican support for his $1.9 trillion aid packed, but he would opt for having it pass the Democratic-run House and Senate quickly via a process called budget reconciliation over negotiating with GOP lawmakers.