Southwest Airlines has taken its fourth and final disbursement of CARES Act funds with the receipt of $326 million from the US Treasury. Southwest first tapped CARES ACT FUNDS on April 20 when the carrier first took payroll support from the US Treasury and issued a promissory note and warrants in return. Following further disbursements occurred on May 29 and June 30 and following the final tranche of payments the value of the promissory note to the Treasury stands at $947 million and it has issued warrants to purchase up to 2,598,724 shares of the Company’s common stock.
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