Alaska Air Group financialises new PSP agreement

On April 29, 2021, Alaska Air Group, finalized agreements with the US Treasury and accepted partial disbursement of funds through an extension of the Payroll Support Program of the American Rescue Plan Act of 2021 (PSP 3). Under PSP 3 and the extension agreements entered into, Alaska and Horizon will receive a total of $571 million, and McGee will receive a total of $13 million, to be used exclusively toward continuing to pay employee salaries, wages and benefits. Alaska, Horizon and McGee received $292 million on April 29, 2021, with the remainder expected to be received sometime in May 2021.