WASHINGTON: The US Treasury Department said on Saturday it has released US$9.5 billion in additional funds from the Payroll Support Program to US air carriers, bringing to US$12.4 billion provided to the airline sector hit hard by the coronavirus pandemic.AdvertisementCongress approved US$25 billion in grants for payroll assistance for passenger airlines.
"There is a very real possibility that we could be a small airlines by the end of the year," he wrote in a email seen by Reuters.The four largest US carriers are receiving US$19.2 billion in total out of the US$25 billion - American Airlines Group Inc, Delta Air Lines Inc, United Airlines Holdings Inc and Southwest Airlines Co.
The department is still reviewing how to award US$4 billion in grants to cargo carriers and US$3 billion to airport contractors like caterers.
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