Monday, 18 October 2021

US airlines have received $12 bln in aid so far amid virus

 Reuters – File Photo

NEW YORK: The Trump administration said Saturday that it has disbursed $12.4 billion to 93 air carriers to help them preserve jobs as the sector struggles to survive the effects of the COVID-19 pandemic.

In a statement, the Treasury Department said it would “continue to make additional payments on a rolling basis.”

The aviation sector has been struck with devastating force by the pandemic, which is keeping travelers at home, forcing airlines around the world to cancel thousands of flights.

Cargo air carriers are also suffering.

The Treasury statement added that those carriers that “receive $50 million or less of payroll support and contractors that receive $37.5 million or less of payroll support will not be required to provide financial instruments” in exchange for the aid.

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