US Treasury Department distributes additional USD 9.5bn to airlines

The US Treasury Department has announced the distribution of an additional USD 9.5 billion to US airlines through the Payroll Support Program (PSP), the department said.

The additional funding raises the total the industry has received in stimulus funds to USD 12.4 billion.

The extra funds were disbursed to eight major airlines and 29 smaller passenger air carriers. A total of 93 air carriers have received money so far under the USD 2.2 trillion relief package signed into law this month, and payments will continue to be made to approved applicants on a rolling basis.

The money sent to the airlines and other industries is meant to be used to cover employee wages, salaries and benefits.