Airlines, cargo carriers have received more than $12 billion in coronavirus relief
Treasury officials have distributed nearly half of the payroll support money earmarked for US airlines and cargo carriers under provisions of the $2t economic rescue package approved by Congress last month. As of this week, $12.4b of the $29b in grants has been paid out to 93 carriers to keep front-line workers on the job, treasury officials said. In all, airlines and air cargo carriers are eligible for more than $50b in grants and loans. The payments come as the Department of Transportation issued decisions on appeals from three more airlines that sought exemptions to requirements that they continue service to certain communities as a condition of receiving grant funds through the rescue package, known as the Cares Act. At least seven other carriers filed similar appeals. United, Frontier and Sun Country airlines won partial victories to delay service to dozens of destinations they served before the coronavirus pandemic. Unlike other financial support programs created by the Cares Act, the program to aid airlines and cargo carriers has been relatively trouble-free — a relief to an industry reeling from the worst financial crisis in its history.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-04-28/general/airlines-cargo-carriers-have-received-more-than-12-billion-in-coronavirus-relief
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Airlines, cargo carriers have received more than $12 billion in coronavirus relief
Treasury officials have distributed nearly half of the payroll support money earmarked for US airlines and cargo carriers under provisions of the $2t economic rescue package approved by Congress last month. As of this week, $12.4b of the $29b in grants has been paid out to 93 carriers to keep front-line workers on the job, treasury officials said. In all, airlines and air cargo carriers are eligible for more than $50b in grants and loans. The payments come as the Department of Transportation issued decisions on appeals from three more airlines that sought exemptions to requirements that they continue service to certain communities as a condition of receiving grant funds through the rescue package, known as the Cares Act. At least seven other carriers filed similar appeals. United, Frontier and Sun Country airlines won partial victories to delay service to dozens of destinations they served before the coronavirus pandemic. Unlike other financial support programs created by the Cares Act, the program to aid airlines and cargo carriers has been relatively trouble-free — a relief to an industry reeling from the worst financial crisis in its history.<br/>
