Lawmakers will back new USD14 billion payroll support package for airlines
A US House committee will tomorrow consider a plan to award another $14 billion to airlines to pay salaries and safeguard jobs.
Congressional Democrats are set to support more than $50 billion for the transportation sector including airlines.
Current payroll support funding for US airlines is set to expire on 31 March, and the new funding would keep thousands of airline workers on the job through 30 September.
Airlines have been given $40 billion payroll support funding so far since the pandemic began.
The House Financial Services Committee proposal also includes $1 billion for airline contractors.
It will also extend financial support to airports and Amtrak.
Peter DeFazio, chair of the House Transportation and Infrastructure Committee, recently said a new round of airline PSP money would include existing restrictions on executive pay and stock buybacks.
According to proposal documents seen by Reuters, airlines lost more than $35 billion last year and ‘airlines do not expect to return to profitability until midway through 2021.’
Written by Ray Montgomery, US Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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