US Senate aims to provide US$58b in aid to airlines
The US Senate has drafted a bill that would provide US$58b in aid to help US airlines manage through the coronavirus pandemic, which has forced many to reduce schedules, ground aircraft and furlough staff. The Coronavirus Aid, Relief, and Economic Security Act of 2020, released by the US Senate Thursday, offers $208b in collateralised loans and loan guarantees to US businesses, with $50b reserved for passenger air carriers and $8b for cargo carriers. In addition it suspends excise taxes on transportation and kerosene for commercial aviation until the end of the year. As written, the bill would not provide assistance in the form of direct grants or unsecured loans, as the airline industry has requested. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-20/general/us-senate-aims-to-provide-us-58b-in-aid-to-airlines
https://portal.staralliance.com/cms/logo.png
US Senate aims to provide US$58b in aid to airlines
The US Senate has drafted a bill that would provide US$58b in aid to help US airlines manage through the coronavirus pandemic, which has forced many to reduce schedules, ground aircraft and furlough staff. The Coronavirus Aid, Relief, and Economic Security Act of 2020, released by the US Senate Thursday, offers $208b in collateralised loans and loan guarantees to US businesses, with $50b reserved for passenger air carriers and $8b for cargo carriers. In addition it suspends excise taxes on transportation and kerosene for commercial aviation until the end of the year. As written, the bill would not provide assistance in the form of direct grants or unsecured loans, as the airline industry has requested. <br/>
