Representatives from major U.S. airlines told the US Government today that the industry needs $50 billion in grants and loans to survive the dramatic falloff in travel demand from the coronavirus outbreak.
In a letter made public on Monday, Airline members said they need $25 billion in grants and $25 billion in loans, while cargo carriers need $4 billion in grants and $4 billion in loans.
They warned that major airlines will run out of money by the end of the year or sooner, and that credit card companies could begin withhold cash from sales.
They are also seeking significant tax relief. The letter added that “a 30-day domestic travel ban” could add to another $7 billion to $10 billion in lost revenue..