Absent vaccine, airline industry may be gutted for years

U.S. airlines employ about 750,000 people directly, according to trade group Airlines for America.

The CARES Act included $58 billion for the Treasury Department to issue grants and loans to passenger and cargo airlines. Half of the money was dedicated to helping airlines continue to pay their workers, and that aid comes with the stipulation that carriers don’t furlough employees through the end of September.

But Nelson pushed back on that, saying she believes “it’s possible, that if we’re in an emergency state again, that Congress will act again to keep people in their jobs.”

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Hotels asks Congress for more aid as industry’s revenue may drop by nearly 50%A trade group representing the hotel industry on Monday asks top U.S. lawmakers to increase the maximum amount that hotels are allowed to borrow in the Paycheck Protection Program and make other changes. BillOllman money for everyone. Fuck Airlines, cruise ships, hotels and oil. This is sounding like 2008 all over again when the too big to fail banks were criminally bailed out. Rich got richer. Middle and poor got poorer. Covid19 Coronavirus.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »