Major airlines sought a U.S. government bailout of more than $50 billion as the White House move urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand. Airlines for America, the trade group representing American Airlines, United Airlines, Delta Air Lines, Southwest Airlines and others, said the industry needs $25 billion in grants, $25 billion in loans and significant tax relief to survive. It warned that without action all of their members could run out of money by year-end – and even sooner if credit card companies stared withholding payments. “This is a today problem, not a tomorrow problem. It requires urgent action,” said Nicholas Calio, president of the airline group. The airlines’ proposal would see them […]