The United States reached an agreement with the ailing aviation industry on Wednesday in a support package worth a total of $ 25 billion (€ 22.78 billion). The multi-billion dollar package is intended to pay salaries, so that employees in American aviation do not lose their jobs en masse.
The $ 25 billion is a combination of loans and direct grants. For example, American Airlines, the largest airline in the US, receives a total of $ 5.8 billion. Of this, only $ 1.7 billion needs to be repaid.
The money is needed because the industry has faltered since the coronavirus outbreak. Passenger traffic in the US has fallen by at least 95 percent due to the virus outbreak. With the money, the industry hopes that employment will remain stable until October, when aviation is expected to find its way back up.
Aviation Dome IATA wrote on Tuesday that losses for the industry worldwide will reach $ 310 billion in 2020. At the beginning of April, the number of flights worldwide according to the umbrella was 80 percent lower than in the same period last year.
The organization thinks that domestic transport may start up again a bit at the beginning of the third quarter, but expects that this will take longer for international transport because governments are reluctant to release air traffic.
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