US air­lines re­ceived $12bn in aid so far

Kuwait Times - - Business -

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. — AFP

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