Major airlines sought a U.S. government bailout of more than $50 billion as the White House is urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand.
Airlines for America, the trade group representing American Airlines, United Airlines Inc, Delta Air Lines Inc, Southwest Airlines Co and others, said the industry needs $25 billion in grants, $25 billion in loans and significant tax relief to survive. They also seek tax relief that could be worth tens of billions of dollars through the end of at least 2021.
They also seek a package of $8 billion, equally divided in grants and loans for cargo carriers.
The US airlines warned that without action all of their members could run out of money by year-end – and even sooner if credit card companies stared withholding payments.
