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Tags: barry diller | virus relief | bailout

Barry Diller: 'You've Got to Bail Everyone Out'

iac and expedia chairman barry diller
IAC and Expedia chairman Barry Diller (Cindy Ord/Getty Images for Yahoo)

By    |   Thursday, 16 April 2020 01:49 PM

Billionaire businessman Barry Diller said the government should come to the aid of all companies that have been crippled by the coronavirus crisis.

The comments from Diller, chairman of the travel site Expedia, came Thursday on CNBC's "Squawk Box."

"The damage that is being done every day is enormous," he said. "Everybody needs to be bailed out for this one-time thing, and we'll worry about paying the bills later."

Diller's IAC acquired Expedia in the aftermath of the Sept. 11, 2001, terrorist attacks. But he said he's never seen the kind of shock the travel industry has suffered because of the coronavirus outbreak.

"I don't think this is analogous to anything," he said. "It certainly isn't analogous to 9/11."

"Look, you've got to bail everyone out," he said. "Everybody is in the same position."

He noted Expedia is not generating any revenue at the moment and will soon be forced to cut costs.

Meanwhile, the U.S. Small Business Administration said it is no longer accepting applications for a $349 billion federal relief program aimed at helping small businesses survive the pandemic. Funding for the program lapsed with many still waiting to get a lifeline.

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Billionaire businessman Barry Diller said the government should come to the aid of all companies that have been crippled by the coronavirus crisis.
barry diller, virus relief, bailout
194
2020-49-16
Thursday, 16 April 2020 01:49 PM
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