(CNBC) -- U.S. airlines are seeking government assistance of more than $50 billion, including a mix of direct aid and loan guarantees, as the industry reels from the coronavirus outbreak, a lobbying group that represents 10 U.S. passenger and cargo airlines said Monday.
The aid, if received, would be the industry’s first broad bailout since the wake of the Sept. 11, 2001 attacks. It is also the clearest sign yet of the financial damage coronavirus and the draconian measures governments are taking to stop it are having on American businesses.
Airlines for America, which represents carriers including Delta, United, American, and Southwest, recommended passenger carriers immediately receive up to $25 billion in grants to compensate for reduced liquidity and in the medium-term $25 billion in low- or zero-interest loans.
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