Source: https://worldairlinenews.com/tag/airlines-for-america/
Timestamp: 2020-07-05 01:19:34
Document Index: 263038484

Matched Legal Cases: ['art 121', 'art 121', 'art 121', 'art 121', 'art 121', 'art 121']

U.S. airlines seek assistance from the government
Airlines of America made this announcement on behalf of U.S. airlines:
U.S. carriers are in need of immediate assistance as the current economic environment is simply not sustainable. This is compounded by the fact that the crisis does not appear to have an end in sight. In order to combat this unprecedented economic downfall, A4A is recommending the following combination of programs to provide immediate and medium to long-term assistance to the U.S. airline industry and protect their employees: 1) grants; 2) loans; and 3) tax relief:
U.S. airlines take great pride in the 750,000 men and women they directly employ — from pilots, flight attendants, to reservation agents and mechanics. Each U.S. carrier is having direct and continuous conversations with their employees, and everyone understands the severity of the situation. The current economic environment is simply not sustainable, and it is compounded by the fact that the crisis does not appear to have an end in sight. In order to combat this unprecedented economic downfall, Airlines for America recommends the following combination of programs to provide immediate and medium to long-term assistance to the U.S. airline industry and their employees: 1) grants; 2) loans; and 3) tax relief.
GRANTS: IMMEDIATE ASSISTANCE
Passenger Carriers: Grants to U.S. Part 121 passenger air carriers in the aggregate amount of $[25]B to compensate for reduced liquidity (net of financing) – from Dec. 31, 2019 through Dec. 31, 2020 – attributable to the novel Coronavirus (or COVID-19).
Cargo Carriers: Grants to U.S. Part 121 cargo air carriers in the aggregate amount of $4B to compensate for reduced liquidity (net of financing) – from Dec. 31, 2019 through Dec. 31, 2020 – attributable to COVID-19
LOANS: MEDIUM TO LONG-TERM LIQUIDITY MEASURES
• Unsecured Loans/Loan Guarantees: A voluntary liquidity facility program in an aggregate amount up to $[25]B pursuant to which the Federal Reserve would purchase financial instruments from or provide zero interest unsecured loans or zero interest unsecured loan guarantees to U.S. Part 121 passenger air carriers and up to an aggregate amount of up to $4B to U.S. Part 121 cargo air carriers.
o The process should be simple, straight forward, and streamlined.
o Eligible financial instruments will include but not be limited to commercial paper and term loans.
o Given the credit profile of the industry prior to the onset of COVID-19, participation should be open to all carriers, no carrier shall be required to collateralize any instrument, and the particular instruments purchased or guaranteed should be structured so as to expedite the participant’s ability to re-access the private capital markets as promptly as practical and to stabilize their existing credit ratings.
• Urgency: The grant program will be designed and implemented by the Department of Treasury, and the liquidity facility program will be designed and implemented by the Federal Reserve. Treasury will implement a process for payment of the grants immediately following enactment of the legislation and the Federal Reserve will implement a process for the purchase of financial instruments within [15] days.
TAXES: RELIEF
2020 Excise Taxes: Rebate to U.S. Part 121 air carriers the amount of federal excise taxes paid into the Airport and Airway Trust Fund (AATF) that have been remitted to the U.S. Government beginning January 1, 2020 through March 31, 2020.
Temporary Aviation Excise Tax Repeal: Temporary repeal of all the federal excise taxes on Part 121 air carriers, including those taxes on tickets, cargo and fuel through December 31, 2021 (i.e., Internal Revenue Code (IRC) sections 4261(a), 4261(c), 4261(b), 4261(e)(3), 4271 and 4081(a)(2)(c)(i)), subject to a trigger for a further extension beyond 2021 dependent upon economic circumstances.
This entry was posted in Uncategorized and tagged Airlines for America, U.S. airlines on March 17, 2020 by Bruce Drum.
Airlines for America predicts the busiest summer season ever
Airlines for America (Washington), a trade group representing the United States airlines, forecasts the busiest summer season ever. The group estimates 222 million passengers will fly on U.S. airlines from June 1 through August 31, up 4.5 percent from the same season a year ago.
U.S. airlines, according to the report, are collectively increasing the number of seats by 4.6 percent to meet the forecast demand.
Airlines for America (A4A), the industry trade organization for the leading U.S. airlines, forecast that summer 2015 air travel would rise to its highest level ever while reporting that U.S. passenger airlines achieved strong operational performance and improved profitability in the first quarter despite another harsh winter.
“The continued rise in U.S. consumer sentiment and employment is leading to more people traveling more often, and air travel remains one of the best consumer bargains in America”
Meanwhile the group previously forecast spring travel to rise to the highest level in seven years:
This entry was posted in Uncategorized and tagged Airlines for America on May 18, 2015 by Bruce Drum.
Airlines for America projects 2 percent more passengers to fly during Labor Day travel period, net profits up for nine U.S. airlines for the first half of 2014
Airlines for America (A4A), the industry trade organization for the leading U.S. airlines, has delivered its Labor Day air travel forecast and first half 2014 results for U.S. passenger airlines, which reported improving profitability, enabling carriers to invest in their workforce, reduce debt and enhance the customer experience for airline passengers.
“Airlines are key drivers of jobs and economic growth, and improving finances have further accelerated their investments in people, products and technology to enhance the travel experience for customers”
A4A projects a 2 percent year-over-year increase in the number of passengers flying on U.S. airlines during the seven-day Labor Day travel period. From Wednesday August 27 through Tuesday, September 2, A4A expects 14 million air travelers will take to the skies, up from an estimated 13.8 million in 2013, with the busiest day of the period occurring on Friday, Aug. 29. Airlines are adding seats to the marketplace to accommodate the expected increase in demand.
This entry was posted in Uncategorized and tagged Airlines for America on August 22, 2014 by Bruce Drum.