Detroit ? Automakers are breathing a sigh of relief. Thanks to the $17.4 billion bailout loan approved by the Bush administration, they’ll suddenly have the cash to pay their bills and avert a bankruptcy — at least for a little while.

The companies spent weeks lobbying hard for an emergency bailout, and their suppliers, the United Auto Workers and car dealers were chiming in, too.

Every player stood to lose in the event of a total collapse of the U.S. auto industry. And nearly everyone stands to gain from the bailout President George W. Bush ordered Friday — except for the workers whose jobs will be cut as the companies aim for viability, and shareholders and bondholders who will see their investments diluted.

Here are some questions and answers about who wins, and who loses, in the auto industry bailout.

Q: Does this money save General Motors from filing for bankruptcy?

A: For now it does. GM will receive a total of $9.4 billion this month and next month, and another $4 billion from the second half of a $700 billion financial-sector bailout plan Bush signed this fall — as long as Congress allows that half to be released.

GM executives said the immediate loans would allow it to pay bills at the end of the month and into January.

Q: What does this mean for Chrysler? Will its parent company, Cerberus, be able to keep the automaker in business?

A: It means Chrysler will be able to pay its bills and likely will make it until March, but its future is murky beyond that. Cerberus has stated publicly it is patient and wants to turn the automaker around, but it has shopped Chrysler to General Motors and the combined Renault SA and Nissan Motor Co.

If sales don’t come back, though, Chrysler’s financial problems will persist. The company says it needs $7 billion every 45 days to pay parts suppliers, but expects to have only $2.5 billion on hand at the end of this year.

Q: And what about Ford?

A: Ford says it doesn’t need immediate funds, and is working to avoid using any federal aid. But the company’s watching developments closely; Ford executives have said that a GM or Chrysler bankruptcy would hurt them as well, since the companies share several suppliers.

Ford CEO Alan Mulally said he testified in front of lawmakers to stand with the industry. But he’s since been trying to distance the company from the other two automakers because Ford has enough money to survive well into 2009.

Q: Will United Auto Workers members lose jobs or take pay cuts as part of the bailout deal?

A: Yes — GM and Chrysler must pare down in an effort to become profitable.

Claire McClinton, a GM metal center worker in Flint, Mich., said challenges lie ahead for employees. “We’re not hopeful about the future. We as workers still have work to do in terms of fighting to maintain our standard of living.”