US airlines seek nearly $60 billion in aid amid COVID-19 crisis News
Lars_Nissen_Photoart / Pixabay
US airlines seek nearly $60 billion in aid amid COVID-19 crisis

Airlines for America (A4A), the trade group for the US airline industry, on Monday asked for nearly $60 billion in direct assistance and loan guarantees as airlines worldwide struggle amid the novel coronavirus (COVID-19) spread.

A4A stated that because the current economic environment is simply not sustainable, and the crisis does not appear to have an end in sight, the organization recommends immediate and long-term assistance to the US airline industry and their employees in the form of grants, loans and tax relief.

A4A seeks $29 billion in immediate assistance—$25 billion for passenger carriers and $4 billion for cargo air carriers—to compensate for losses from December 2019 to December 2020. Additionally, A4A suggested a voluntary liquidity facility program up to $29 billion, pursuant to which the Federal Reserve would purchase financial instruments from or provide zero interest unsecured loans or zero interest unsecured loan guarantees to US passenger air carriers and cargo air carriers. Lastly, A4A recommended a rebate of federal excise taxes and a temporary repeal of all federal excise taxes.

As the global airline industry experiences unprecedented losses, around 60 of the world’s air carriers have urged for government assistance.

For more on COVID-19, see our special coverage.

THIS DAY @ LAW

38 Santee Sioux hanged by US for rebellion

On December 26, 1862, 38 Santee Sioux men were hanged in a mass execution for their roles in a rebellion against US authorities in Minnesota which left hundreds dead and made refugees of some 40,000 white settlers. Government annuities promised under a treaty with the Sioux had failed to arrive on schedule and credit for purchases was not advanced in the meantime, threatening the tribe with starvation. The Santee Sioux Tribe's members were deported first to South Dakota and ultimately to Nebraska, where they remain today. Learn more about the 1862 Minnesota Sioux Rebellion.

Louis XVI put on trial during French Revolution

On December 26, 1792, Romain de Sèze, a defense attorney for deposed King Louis XVI, presented a defense of his client. The former King was on trial before a French Revolutionary court on thirty-three charges, including treason and other crimes against the state. He was convicted on January 15, 1793 executed by guillotine on the following January 21.