Trump said government should buy 4 to 5 years’ worth of plane tickets in advance
President Donald Trump suggested that the U.S. government should try to buy four to five years’ worth of plane tickets in advance at a discount to inject struggling U.S. airlines with money. “One of the ways we can help the airlines is buying tickets at a very large discount, maybe 50% off or maybe more, and you buy into four or five years’ worth of tickets, and you infuse them with some cash,” Trump said during an Oval Office ceremony on Friday where he signed a $484 billion coronavirus stimulus measure, Bloomberg reported.
President Trump claims that the US government is the “biggest user” of US airlines. These comments come not too long after the US government provided aid to several US airlines. In total, these are billions of dollars of grants and loans to airlines. Although, this funding will only help airlines tide over through September. After that, if the situation is not any better, carriers may end up in a position where they need more government aid, Simple Flying wrote.
Recently, The Treasury Department has distributed an additional $9.5 billion to U.S. airlines through the Payroll Support Program (PSP), raising the total the industry has received in stimulus funds to $12.4 billion. The extra funds, which have been disbursed in the last several days, were sent to eight major airlines and 29 smaller passenger air carriers. A total of 93 air carriers have received money so far under the $2.2 trillion relief package signed into law this month, and payments will continue to be made to approved applicants “on a rolling basis,” the Treasury Department said.The money sent to the airlines and other industries is meant to be used to cover employee wages, salaries and benefits, according to The Hill.
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