As previously announced, President Trump signed the Coronavirus Aid, Relief, and Economic Security
Act (the "CARES Act"), which is a $2 trillion relief
package aimed at helping mitigate some of the economic impact of
the COVID-19 pandemic. As part of the Act, Congress provided relief
for the aviation industry.
Under Title IV, Economic Stabilization and Assistance to
Severely Distressed Sectors of the United States Economy,
Congress approved $500 billion in federal assistance to severely
distressed sectors of the economy as part of the larger $2 trillion
stimulus package. The approved programs include $61 billion to the
aviation sector. The Act provides support to the airline industry
through loans, loan guarantees, and grants. The Act also provides
relief for certain federal excise taxes, such taxes on airline
passenger tickets, cargo, and aviation fuel. A Congressional
Oversight Commission will be established to implement Title IV.
