Tag: US12b

US airlines received US$12b in aid so far, says Treasury | Money

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

NEW YORK, April 26 ― The Trump administration said Saturday that it has disbursed US$12.4 billion (RM54 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 travellers 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 US$50 million or less of payroll support and contractors that receive US$37.5 million or less of payroll support will

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