Paid it out as to owners/execs as dividends/bonuses, this is what happened in my industry to the companies that took PPP loans but had plenty of work and receivables to pay the bills. Plenty of PPP money was ‘used for payroll’ when there was already money for payroll, then the company is free to do as it wants with it (cash out to owners)
You’re asking what booking.com (a travel booking agency that lives on fees earned when people are traveling and using them to buy it) did with all that money they were earning from their normal business operations given the collapse of travel volumes from March of 2020 to now?
