Pandemic Darlings The pandemic economy, in original documents
Home Source documents Treasury Finalizes Agreements with Major Airlines, Disburses Initial Payroll Support Program Payments (U.S. Department of the Treasury)

Treasury Finalizes Agreements with Major Airlines, Disburses Initial Payroll Support Program Payments (U.S. Department of the Treasury)

Summary

A U.S. Department of the Treasury press release dated April 20, 2020 announces Payroll Support Program agreements with Allegiant Air, American Airlines, Delta Air Lines, Southwest Airlines, Spirit Airlines and United Airlines, with Alaska Airlines, Frontier Airlines, Hawaiian Airlines, JetBlue Airways and SkyWest Airlines also planning to take part. Treasury says these airlines represent nearly 95 percent of U.S. airline capacity. It disbursed $2.9 billion in initial payments that day to approved applicants, including two major airlines and 54 smaller passenger air carriers, with more payments to follow on a rolling basis. The funds may be used only to continue paying employee wages, salaries and benefits; the program was created under Division A, Title IV, Subtitle B of the CARES Act.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

U.S. Department of the Treasury

Press Releases

Treasury Finalizes Agreements with Major Airlines, Disburses Initial Payroll Support Program Payments

April 20, 2020

WASHINGTON – Today the U.S. Department of the Treasury concluded Payroll Support Program agreements with Allegiant Air, American Airlines, Delta Air Lines, Southwest Airlines, Spirit Airlines, and United Airlines.

Alaska Airlines, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, and SkyWest Airlines have also indicated that they plan to participate in the Payroll Support Program.

Together, these airlines represent nearly 95 percent of U.S. airline capacity. The agreements will support airline workers and help safeguard the strategically important aviation industry, while ensuring that taxpayers are appropriately compensated.

Treasury also made the first Payroll Support Program payments to passenger air carriers today, disbursing a total of $2.9 billion in initial payments to approved applicants, including two major airlines and 54 smaller passenger air carriers. Treasury will make additional payments to approved applicants on a rolling basis, including to the major airlines that concluded Payroll Support Program agreements today. All funds provided under the program can be used only for the continuation of payment of employee wages, salaries, and benefits.

“The Payroll Support Program is critical to supporting American workers and preserving our airline industry, which is a vital part of the U.S. economy,” said Secretary Mnuchin. “We continue to work quickly to deliver this needed relief.”

The Payroll Support Program, which was created under Division A, Title IV, Subtitle B of the CARES Act, provides payroll support for American workers employed by passenger air carriers, cargo air carriers, and related contractors. Treasury has received hundreds of applications for the Payroll Support Program from passenger air carriers, cargo air carriers, and contractors, and is working to review and approve applications as quickly as possible.

File and source

File
raw.html
Size
69,257 bytes
SHA-256
7e00c055a8c575ca86a3369cb7bc43d5129167aaf8d7c1e38eee2b64130e8eeb
Our copy
raw.html
Original
home.treasury.gov
Back to top