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US Provides $ 20 Billion in Government Support to Airlines to Pay Salaries

North America / Business and Finance

In addition, the US Treasury will provide an additional $ 8 billion in aid to the struggling private bus industry.

US Provides $ 20 Billion in Government Support to Airlines to Pay Salaries

US Treasury Secretary Steven Mnuchin said Wednesday that his department plans to provide $ 20 billion in additional government payroll support to US airlines.

“I think it would be very important in terms of employment and rescue of the industry,” Mnuchin said at a House hearing.

In October, American Airlines and United Airlines laid off more than 32,000 employees after the expiration of a previous $ 25 billion payroll assistance program.

The US Treasury separately offered $ 25 billion in loans to airlines; it has approved over $ 21 billion in loans to date, including $ 7.5 billion for American and United.

Mnuchin also said he supports the provision of similar assistance to the struggling private bus industry. The bipartisan proposal, unveiled on Tuesday, will provide bus companies with $ 8 billion.

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