US President signs CARES Act

US President Donald Trump signed (27-Mar-2020) the Coronavirus Aid, Relief, and Economic Security (CARES) Act, turning emergency supplemental appropriations and other adjustments into law. The law includes the following measures for the aviation industry:

• Suspension of certain aviation excise taxes;
• USD25 billion to passenger carriers, USD4 billion to cargo carriers and USD3 billion to contractors to be used exclusively for continuation of wages, salaries and benefits to employees;
• USD10 billion for grants in aid for airports;
• USD56 million in funds from the US Department of the Treasury general fund for the Essential Air Service and Rural Improvement Fund;
• USD25 billion in loans/loan guarantees to passenger carriers, and USD4 billion for cargo carriers. [more - original PR] [more - original PR - US Congress]