(Reuters) - The U.S. Treasury Department has hired Wall Street bankers and lawyers to advise on providing tens of billions of dollars in aid to the airline, cargo and defense sectors, people familiar with the matter said on Wednesday. The appointments come after U.S. lawmakers approved a $2.2 trillion stimulus bill last week to mitigate the economic fallout of the coronavirus pandemic, which has killed more than 5,000 people in the United States and shut down large swathes of the country's economy. PJT Partners Inc will advise the Treasury on its negotiations with the airlines, the sources said. The stimulus bill, known as the CARES Act, provides for up to $50 billion in aid to airlines, half of it in loans and loan guarantees and half of it in grants. Moelis & Co will advise the Treasury on its negotiations with companies in the cargo sector, for which $8 billion has been allocated, to be split equally between loans and grants, according to the sources.

Source: International New York Times April 02, 2020 00:40 UTC