Department of Treasury Issues Guidance on Air Carrier Industry Assistance from CARES Act

On March 30, 2020, the U.S. Department of the Treasury issued guidance to air carriers for $32 billion in emergency relief grant aid for payroll outlined in the Coronavirus Aid, Relief and Economic Security Act (CARES Act), signed into law by the president on March 27, 2020. An additional $46 billion is authorized for loans from the Treasury under Section 4003(b) of the CARES Act. These grants and loans are dedicated to the airline industry.

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