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US airlines urgently need US$50 billion in grants, loans - letter

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WASHINGTON: A group representing major U.S. airlines said the industry needs US$50 billion in grants and loans to survive the dramatic falloff in ...

WASHINGTON: A group representing major U.S. airlines said the industry needs US$50 billion in grants and loans to survive the dramatic falloff in travel demand from the coronavirus outbreak.

In a letter made public on Monday, Airlines for America said members need US$25 billion in grants and US$25 billion in loans, while cargo carriers need US$4 billion in grants and US$4 billion in loans.The group warned that major passenger carriers could run out of money by the end of the year or sooner, and that credit card companies could begin withhold cash from sales. They are also seeking significant tax relief.

 

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