Yikes: U.S. Airline Industry Requests $50 BILLION in Bailouts

(AmericanPoliticalDaily.Com)- The coronavirus pandemic is beginning to spread across the United States. Multiple cities have announced the forced closure of theaters, restaurants, and bars, and now the airline industry is taking a massive hit after the president was forced to end flights from Europe, China, and a series of other countries hit hard by COVID-19.

In response, the U.S. airline industry has requested a $50 billion aid package from the federal government to keep businesses ticking over, employees paid, and the industry read to start up again when the pandemic has come to an end.

Airline advocacy organization Airlines for America announced on Tuesday that U.S. carriers “are in need of immediate assistance as the current economic environment is simply not sustainable.”

“This is compounded by the fact that the crisis does not appear to have an end in sight,” the statement continued.

The $50 billion request would, should it happen, come in the form of a series of grants, loans, and tax relief. It would not be an immediate lump sum gifted by the government. Airline companies are suggesting a $4 billion grant to cargo carries to ensure goods can still be transported across the country and beyond.

Airline companies aren’t the only ones asking for help from the federal government, either. As Americans stop going to work, start self-isolating, and stop spending money, the national economy is expected to come to a standstill. A large decline in travel across the country means all kinds of industries are struggling.

American lawmakers have begun discussing the aid package, but those discussions have been described by two CNN sources as “early-stage.” One source did, however, note that the federal government was recognizing that things are “getting very bad, very fast.”

As well as a request to help the airlines, a trade group that represents the airports across America has requested a $10 billion bailout. At this point, the government has very little choice but to bail out many key industries, as companies simply won’t be operating once people return from self-isolation.

Could the coronavirus bring everything the Trump administration has worked hard for crashing to the ground, or could this all just be temporary?