Airline industry seeking more than $50 billion in government aid amid coronavirus crisis

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.

>Among the requests 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 seeking $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 and a rebate of all federal excise taxes paid between January and March of 2020. Continue reading.