Birdwatch Note Rating
2022-12-30 17:16:27 UTC - HELPFUL
Rated by Participant: F8AF5A54B2E2DDABC431D9927820885070D60AEC02B230D8F39B0326D1FAAC0D
Participant Details
Original Note:
Southwest has not spent any money on stock buybacks since receiving it's bailout, because federal law (Division A, Title IV, Subtitle A of the CARES Act) explicitly banned recipients of pandemic bailouts from spending any money on stock buybacks until October, 2022. https://home.treasury.gov/policy-issues/coronavirus/assistance-for-industry/loans-to-air-carriers-eligible-businesses-and-national-security-businesses https://finance.yahoo.com/news/southwest-airlines-received-over-7b-173839536.html https://www.cnn.com/2022/12/28/business/southwest-pandemic-aid-meltdown/index.html https://apnews.com/article/travel-dallas-air-airlines-9478aeeec8260b1b999123f29cbdfe92
All Note Details