American Airlines applies for U.S. payroll assistance grants

American Airlines, the largest U.S. airline, confirmed Friday it has applied to the U.S. Treasury for a chunk of the $25 billion payroll assistance grants approved by Congress last week.

American did not say how much it sought or what financial instruments it has proposed in compensation for taxpayers. The airline said earlier it expected to be eligible for $12 billion in loans and grants from the $50 billion that Congress has set aside for airline assistance. The U.S. Treasury asked airlines to apply for grants by 5 p.m. EDT Friday.