US Airlines Seeking Nearly $60 Billion to Sustain Industry During Virus Outbreak

March 16, 2020 by Dan McCue
Lawmakers are making a bipartisan push to improve the safety of commercial flights.

WASHINGTON – U.S. Airlines are asking for close to $60 billion in government assistance to help them deal with industry travails associated with the ongoing coronavirus outbreak.

Airlines for America, the trade association that represents Delta, United, American and Southwest, among other carriers, urged the Trump administration to provide the industry with immediate and long-term assistance in the form of grants, loans and tax relief.

The association is specifically seeking up to $25 billion in grants for passenger carriers to compensate for reduced liquidity and in the medium-term $25 billion in low- or zero-interest loans.

It is also seeking a temporary repeal of the Aviation Excise Tax and a rebate of all federal excise taxes paid by the carriers since the first of the year.

“Carriers have seen a dramatic decline in demand, which is getting worse by the day,” said association president and CEO Nicholas Calio in a written statement.

“Carriers have been forced to remove flights from their schedule and make historic capacity cuts. Cancelations are spiking, and for U.S. carriers those cancelations are outpacing new bookings,” he continued.

“The economic impact on U.S. airlines, their employees, travelers and the shipping public is staggering. This crisis hit a previously robust, healthy industry at lightning speed and we remain concerned that the impacts of this crisis will continue to worsen,” he said.

The aid, if received, would be the industry’s first broad bailout since the wake of the Sept. 11, 2001 attacks.

The association asks that the Treasury Department immediately begin designing the grant program, and the Federal Reserve to do the same when it comes to the liquidity facility program.

It says it hopes to see the programs launched within the next 15 days.

“This is a today problem, not a tomorrow problem. It requires urgent action,” Calio concluded.

In The News

Health

Voting

Business

Desperate for Workers, US Restaurants and Stores Raise Pay
Employment
Desperate for Workers, US Restaurants and Stores Raise Pay

WASHINGTON (AP) — U.S. restaurants and stores are rapidly raising pay in an urgent effort to attract more applicants and keep up with a flood of customers as the pandemic eases. McDonald's, Sheetz and Chipotle  are just some of the latest companies to follow Amazon, Walmart ... Read More

Working From Home Will Stick Post-Pandemic, Experts Say
Employment
Working From Home Will Stick Post-Pandemic, Experts Say
May 13, 2021
by Reece Nations

CAMBRIDGE, Mass. — A working paper published by the National Bureau of Economic Research contends that working from home may be here to stay after the COVID-19 pandemic has subsided. The paper — authored jointly by Steven Davis of the University of Chicago, Jose Maria Barrero... Read More

COVID-19 Pet Boom Has Veterinarians Backlogged, Burned Out
Mental Health
COVID-19 Pet Boom Has Veterinarians Backlogged, Burned Out

FORT LAUDERDALE, Fla. (AP) — During the gloomiest stretches of the pandemic, Dr. Diona Krahn's veterinary clinic has been a puppy fest, overrun with new four-legged patients.  Typically, she'd get three or four new puppies a week, but between shelter adoptions and private purchases, the 2020... Read More

How the Pandemic Is Shaping Policies for Smoke-Free Air in Casinos
Health
How the Pandemic Is Shaping Policies for Smoke-Free Air in Casinos
May 5, 2021
by Alexa Hornbeck

Nathan Moose, a member of the Oglala Sioux Tribe, developed permanent lung damage equivalent to that of a heavy smoker, despite never having smoked a day in his life.   Moose was an employee of a casino for 11 years that allowed indoor smoking, and in 2013... Read More

$28.6 Billion Restaurant Revitalization Fund Open for Enrollment
Business
$28.6 Billion Restaurant Revitalization Fund Open for Enrollment
May 3, 2021
by Reece Nations

The Small Business Administration began accepting applications on Monday for the Restaurant Revitalization Fund, a program authorized in March by the passage of the American Rescue Plan Act. To receive funding, businesses must submit their application to the SBA on a first-come, first-served basis at restaurants.sba.gov.... Read More

Dairy Farmer Groups Launch Bid for Better Post-Pandemic Milk Pricing
Agriculture
Dairy Farmer Groups Launch Bid for Better Post-Pandemic Milk Pricing
April 28, 2021
by Dan McCue

Four Midwestern dairy groups who saw their revenues plummet as a result of the coronavirus pandemic have proposed a new pricing plan they hope will create greater long-term stability in fluid milk pricing and reduce the chance of similar income disruptions in the future. The proposal... Read More

News From The Well
scroll top