(Bloomberg) -- American Airlines Group Inc. and United Airlines Holdings Inc. are among seven carriers taking federal loans that are capped at $7.5 billion apiece, the Treasury Department announced late Tuesday.

Accepting federal loans is seen as a last resort if no other funding comes through because of the government’s restrictions. Companies accepting federal loans are required to put a cap on executive compensation offer equity or other financial stakes to the government in exchange for the aid.

Nearly all major airlines signed letters of intent to tap the $25 billion loan fund carved out in the Cares Act to help an industry reeling from the pandemic. The Treasury Department did not layout how much each carrier is borrowing.

Alaska Airlines, Frontier Airlines, JetBlue Airways Corp., Hawaiian Airlines and SkyWest Airlines also accepted the loans.

Southwest Airlines Co., Delta Air Lines Inc. and others opted not to because they found financing in private markets, leaving more federal bailout money for a smaller number of carriers to tap. The Treasury Department limited the funds to 30% of the total program for each carrier.

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