Washington (CNN) Major US airlines have accepted the government's terms to receive billions of aid and keep hundreds of thousands of employees on the payrolls, the Treasury Department announced Tuesday.

American Airlines, Southwest Airlines, Delta Airlines and United Airlines are among those who have accepted the bailout offer, Treasury Secretary Steve Mnuchin said in a statement.

Mnuchin said the department is "is also working to review and approve applications for smaller passenger air carriers as quickly as possible," and would take up discussions with cargo carriers "very soon."

The package includes a combination of grants, which the airlines do not need to pay back, and low-interest loans, which the airlines and labor unions heavily resisted. Ongoing talks over what the Treasury Department would receive from the airlines delayed the agreement.

American said it expects to receive $5.8 billion from the fund: $4.1 billion as a grant and $1.7 billion as a loan. It will also apply for $4.75 billion in additional loans.

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