US Airlines Seek $50B Bailout Amid Coronavirus Crisis

The Washington Post reports:

U.S. airlines are asking for more than $50 billion in federal assistance amid the economic uncertainty caused by the dramatic decrease in passenger traffic due to the coronavirus outbreak.

The aid would come in the form of grants, loans and tax relief. Among the asks is nearly $30 billion in grants for passenger airlines and cargo carriers, according to a document from Airlines for America, the industry’s leading trade group.

In addition, the industry is asking for $25 billion in loans and temporary tax relief in the form of a repeal of all federal excise taxes on tickets, fuel and cargo through the end of 2021.