Today, the U.S. Senate reached a deal on a stimulus package that includes $50 billion in loans and grants to airlines
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is expected to pass both chambers of Congress and be signed into law by President Trump in the coming days.
“The coronavirus pandemic has proved to be the biggest challenge ever faced by ASTA and its members,” said Zane Kerby, president and CEO of the American Society of Travel Advisors (ASTA).
“Over the past few weeks, we have worked hand-in-hand with our 13,000 members to secure the maximum amount of relief for the travel agency community in this package. The fact that travel agencies are included in the airline assistance portion of the bill is a huge win and means that Congress heeded our call to include our members in any targeted travel industry relief. We are also heartened by the outpouring of support from the industry, including over 28,000 grassroots messages to legislators through ASTA.org, and feel strongly that our efforts made a significant difference in the size and scope of relief options in the bill.”
The Treasury Secretary can make up to $25 billion in loans, loan guarantees and other investments in support of passenger airlines, “ticket agents” (the statutory term for travel agencies) and other related aviation businesses.
ASTA will work with both Treasury and Transportation Departments to implement this provision.