Treasury Department Selects (Boutique) Wall Street Banks to Advise on Airline Aid
From WSJ:
"The Treasury Department plans to hire three Wall Street banks for advice on doling out tens of billions of dollars in aid to the airline industry, which is hemorrhaging cash as a result of the coronavirus pandemic.
The department is expected to tap PJT Partners Inc., Moelis & Co. and Perella Weinberg Partners for help with the airline portion of the $2 trillion stimulus bill, according to people familiar with the matter. Each bank is likely to advise on aid to one of three subsectors: commercial airlines, cargo carriers and firms critical to national security, such as Boeing Co., the people said.
The assignments could be disclosed this week, though the plans could change or be delayed as they are still being finalized."
TLDR: PJT, Moelis, and PWP expected to advise on how to best help the airline industry.
Is this a huge win for EB's or insignificant in the long run?
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