Major airlines urge US Treasury to disburse assistance quickly
Major US airlines asked the US Treasury to move quickly to release up to $58b in government grants and loans and recommended a formula to divide up the money. In a letter dated Saturday, carriers wrote that "given the urgent and immediate need, it is essential that these funds be disbursed as soon as possible." The letter was signed by the CEs of American Airlines, Delta, United, Alaska Air, JetBlue, Southwest, Hawaiian Airlines and Atlas Air Worldwide. It was also signed by senior executives at UPS Corp and FedEx and the head of an airline trade association. The $2.2t stimulus and assistance legislation signed into law Friday by President Donald Trump gives passenger airlines $25b in cash assistance to cover payroll costs and $25b in loans, while cargo carriers are eligible for $4b in grants and $4b in loans. Airlines had threatened to quickly start laying off tens of thousands of workers within days if they did not get a bailout. Treasury faces an April 1 deadline to issue procedures to airlines to apply for grants. The airlines said Treasury should allocate grants in accordance with salaries and benefits paid by carriers from April 1 through Sept. 30, 2019 and filed with the US DoT.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-03-30/general/major-airlines-urge-us-treasury-to-disburse-assistance-quickly
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Major airlines urge US Treasury to disburse assistance quickly
Major US airlines asked the US Treasury to move quickly to release up to $58b in government grants and loans and recommended a formula to divide up the money. In a letter dated Saturday, carriers wrote that "given the urgent and immediate need, it is essential that these funds be disbursed as soon as possible." The letter was signed by the CEs of American Airlines, Delta, United, Alaska Air, JetBlue, Southwest, Hawaiian Airlines and Atlas Air Worldwide. It was also signed by senior executives at UPS Corp and FedEx and the head of an airline trade association. The $2.2t stimulus and assistance legislation signed into law Friday by President Donald Trump gives passenger airlines $25b in cash assistance to cover payroll costs and $25b in loans, while cargo carriers are eligible for $4b in grants and $4b in loans. Airlines had threatened to quickly start laying off tens of thousands of workers within days if they did not get a bailout. Treasury faces an April 1 deadline to issue procedures to airlines to apply for grants. The airlines said Treasury should allocate grants in accordance with salaries and benefits paid by carriers from April 1 through Sept. 30, 2019 and filed with the US DoT.<br/>
